Over 100 years ago the landmark 6 bedroom ocean property was built for $35,000 and sits on the edge of beautiful Glorietta Bay.
The extravagant Coronado property now called The Glorietta Bay Inn includes 89 contemporary rooms and suites. It was sold to Kamla Hotels, a family-owned company that owns a mix of boutique and branded hotels in California.
Kamla Hotels paid nearly $400,000 per room for the historic building.
CEO of RAR Hospitality says “It is a high price but its a phenomenal and irreplaceable location,” . “No one can build more hotels in Coronado. Once you have a location that’s protected, the barriers to building are not only deep and significant, but virtually impenetrable.”