Kawa and CL Hotels Team Up for Hotel La Jolla Buy

Kawa Capital Management partnered with private investment company CL Hotels LLC to acquire the Hotel La Jolla. The purchase price was undisclosed.

The 11-story 110-room Curio Collection Hilton hotel’s location was a key driver for the acquisition. Located near tourist destinations including La Jolla Cove, La Jolla Village and Torrey Pines, and minutes to the beach, more than 70 percent of the rooms have an unobstructed view of the Pacific Ocean.

“This hotel is at the epicenter of the quintessential La Jolla experience,” said Daniel Ades, founder and managing partner of Kawa Capital.

Another key driver was the renewal of a franchise agreement with Hilton for 20 years.

Following the acquisition, a property improvement plan of $5 to 6 million will be implemented to update the guestrooms, lobby, pool areas, and restaurant and meeting space. Renovation will take approximately 24 months to complete post-acquisition.

“The investment into the building guarantees that the Hotel La Jolla will provide the upscale facilities and services befitting of the area,” said Joao Woiler, company principal of CL Hotels LLC. “It’s a world-class destination that has been very resilient during the pandemic on the leisure segment and shall see a huge resurgence of corporate visitors as more people feel confident in traveling post-pandemic.”