In a headline-grabbing move that’s set to reshape California’s luxury hospitality landscape, Tinder co-founder Justin Mateen—alongside his brother Tyler and Culver Capital—has acquired the historic Belmond El Encanto Hotel in Santa Barbara for $82.2 million from LVMH, marking the French luxury conglomerate’s exit from its only U.S. hotel.
Originally opened in 1918, El Encanto has long been a magnet for Old Hollywood royalty and modern-day celebrities alike. Perched on a seven-acre hillside estate with sweeping views of the Pacific, the 90-room property will now be repositioned as an independent boutique hotel, no longer affiliated with the Belmond brand.
The new ownership group plans to invest $40 million over the next three years in phased renovations, all while keeping the hotel open throughout. Enhancements will span the bungalows, spa, culinary offerings, and terraced gardens, with landscape architect Mark Rios and developer Tyrone McKillen leading the transformation. Early plans include converting select rooms into retail spaces such as a café, and introducing a membership club to elevate the guest experience.
Justin Mateen described the property as “irreplaceable,” adding, “We will be pouring love and resources into this iconic property to continue that legacy and ensure that it remains a top destination for visitors from around the world and down the block”.
For UK business travellers seeking a blend of heritage, exclusivity, and proximity to Los Angeles, El Encanto’s next chapter promises a compelling mix of Californian charm and modern luxury—without the need to wait for reopening. The resort remains operational, with upgrades timed to coincide with low seasons, ensuring minimal disruption to guests.
As LVMH pivots toward its upcoming Bulgari Hotel in Miami Beach, slated for 2028, the Mateens’ acquisition signals a confident bet on the enduring appeal of California’s coastal hospitality market.