La Jolla Real Estate, Del Mar real estate, Rancho Santa Fe Homes, Carmel Valley Real Estate, University City and
Downtown San Diego real estate, homes and condos for sale in California - Ruth Mills & the Mills Team, REALTOR.






Search the San Diego MLS
(includes all areas in San Diego County)



 March 05, 2008

San Diego Company to Buy La Jolla, Rancho Santa Fe Hotels
APMC, a company based in San Diego, have come to an agreement and will purchase two historic hotels, the Rancho Valencia Resort located in Rancho Santa Fe and the La Valencia located in La Jolla.
The La Valencia was originally built in 1926 and was later bought by real estate mogul Willis Allen. As of now, the hotels have been owned by Willis' relative and helped maintained by a trust.

Although the purchase price is being kept a secret, the president of APMC says he had been trying to purchase the properties, even before they went on the real estate market. He also claims that although it was a lot of money, the treasures he inherits, such as the rich history, location and views cannot be measured in dollars.

Renovations will begin on the La Valencia and are planned to take the historic hotel into the next "60 years". Their goal is to preserve its heritage, while, at the same time, upgrading the hotel. There is also discussion that a spa may be in the works and this is not just any spa. This spa will be approximately, 3500 sqft.

Back to Real Estate News

Search San Diego Real Estate