Latest news with #Mateen
Daily Mail
6 days ago
- Business
- Daily Mail
Tinder co-founder continues to build his empire with $120M project
By El Encanto looks over the Pacific Ocean and charges guests over $1,000 a night for a luxury experience in one of its 92 rooms across the seven-acre estate. It boasts a 'serene and quiet' atmosphere situated on the Riviera. Forbes called it 'an elegant Santa Barbara hideaway.' Guests can enjoy sweeping views from an array of Riviera-inspired bungalows and villas. Mateen purchased the hotel from Belmond, the hospitality company of retailer LVMH. El Encanto was their only hotel in the United States. He embarked on this project alongside his brother Tyler Mateen and Culver Capital, an investment banking and business consulting firm. He told Robb Report: '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.' The property was originally purchased in the 1870s and became a hotel in 1918. It has been visited by many of Old Hollywood's dazzling elites like Clark Gable and Carole Lombard. Even 100 years later, the glamorous hotel continues to serve stars like Gwen Stefani, Barbra Streisand, and Leonardo DiCaprio. The hotel will remain open during renovations, which are set to take approximately three years. The first order of business is a complete makeover of the grounds with the help of LA architect Mark Rios. The plan is to turn the property into a 'mystical garden.' They also plan on replacing a few of the rooms with coffee shops and membership clubs but want to keep its original character and charm. Over the past few years, the brothers have been dedicated to purchasing high-profile real estate properties in Southern California. The area's real estate scene is notoriously difficult to break into, but Mateen seems to have had no problem building his empire. In June, the duo spent $69 million on a retail property near the famous TCL Chinese Theatre on Hollywood Boulevard. They acquired the Hollywood Galaxy shopping center and the historic Peterson building, which sits next door and once housed a Cadillac dealership. In 2024, in partnership with Pouya Abdi, the brothers spent millions on a five-story office building called the Wilshire Rodeo Plaza in LA, which they hoped to fill with retailers and a rooftop restaurant. The same year, the brothers acquired HHLA entertainment center in Westchester near Playa Vista. They're refurbishing it to house the immersive entertainment company Meow Wolf, among other retail tenants. Mateen and his brother are strategically spending money on their hometown of Los Angeles. The commercial real estate market in the region is currently on a downswing, but the brothers are confident their investments will pay off when it bounces back in the next few years. El Encanto is just one of their many ventures that will help transform their beloved hometown. Under its new leadership, the hotel will operate as a boutique, untethered by any hospitality chain or company. Tyler Mateen said: 'We want to control what's on the menu and how the staff are working.' With hotel sales on the decline in California, coastal properties are looking to sell to affluent buyers who intend on hanging onto the hotel for years to come. That makes the Mateens' $120 million total investment worthwhile. Justin Mateen said the resort 'is something that we're going to hold in our families forever.' Daily Mail reached out to Justin Mateen for comment.
Fashion United
08-07-2025
- Business
- Fashion United
LVMH to sell El Encanto Hotel in Santa Barbara for 82.2 million dollars
French luxury conglomerate LVMH is selling its sole hotel in the United States, the El Encanto in Santa Barbara, California, to a partnership consisting of Tinder co-founder Justin Mateen, his brother Justine Mateen, and Culver Capital for 82.2 million dollars. The hotel, which consists of 90 rooms, is located in a popular coastal vacation area northwest of Los Angeles and sits on a 7-acre estate, complete with terraced gardens and views of the ocean. The sale, which sees the hotel transfer ownership from Belmond, the hospitality brand owned by LVMH, means El Encanto will no longer be part of the Belmond chain. The new owners reportedly aim to manage the hotel themselves, as the Marteens aim to acquire a large share of the luxury hospitality market in Santa Barbara. 'We look at it as we're buying 20 percent of the class A luxury hospitality market in Santa Barbara, which we believe is a growing market,' Tyler Mateen said in an interview Monday. The new owners plan to invest upwards of 40 million US dollars in upgrading the hotel, according to a report from the Los Angeles Times. 'It has a lot of California's rich history and could be one of the nicest hotels in the US,' said Mateen in the report. 'The bones and the structure are irreplaceable.' The Mateen brothers currently hold a growing portfolio of real estate and technology investments, which includes a shopping center on Hollywood Boulevard, acquired just last month for 69 million US dollars, and an office and retail complex on Rodeo Drive in Beverly Hills, purchased last year for 211 million US dollars.
Yahoo
08-07-2025
- Business
- Yahoo
Tinder co-founder buys five-star El Encanto resort in Santa Barbara
The five-star El Encanto resort in Santa Barbara, a Hollywood getaway for more than a century where rooms cost north of $1,000 a night, has been sold to Tinder co-founder Justin Mateen for $82.2 million. Mateen bought the historic hotel in one of the city's exclusive hillside neighborhoods with his brother Tyler and Culver Capital. The 7-acre estate with terraced gardens and views of the Pacific Oceans was purchased from Belmond, the hospitality brand owned by luxury retailer LVMH, marking the sale of LVMH's only hotel in the United States. The new owners plan to spend as much as $40 million to upgrade the 90-room resort that boasts its Old Hollywood guests included Clark Gable, Hedy Lamarr and Carole Lombard. "It has a lot of California's rich history and could be one of the nicest hotels in the U.S.," Mateen said. "The bones and the structure are irreplaceable." The Mateens have been on an investment spree, buying high-profile properties in Southern California locations where it's hard to develop new projects. Last month they paid $69 million for retail property near the legendary TCL Chinese Theatre on Hollywood Boulevard: the Hollywood Galaxy shopping center the the historic Petersen Building next door that was once a Cadillac dealership. Last year the Mateens and their partner Pouya Abdi bought Wilshire Rodeo Plaza, a five-story office building at Wilshire Boulevard and Rodeo Drive in Beverly Hills. They are in the process of signing new retail tenants for the building and planning a rooftop restaurant. Read more: Tinder co-founder buys Walk of Fame property in Hollywood The Mateens also bought the HHLA entertainment center in Westchester near Playa Vista last year and are refurbishing it. Among its new tenants will be Meow Wolf, an immersive entertainment firm. Mateen is known for being a co-founder of popular dating app Tinder but is also a solo venture capitalist through his JAM Fund. He and his brother have a strategy to invest in their hometown of Los Angeles during a cooling commercial real estate market because they expect the region to bounce back in the years ahead. El Encanto will remain open during renovations, which will take about three years during the low seasons for the hotel, the buyers said. First up is a makeover of the grounds overseen by the Los Angeles firm of architect Mark Rios, who is also creating botanical gardens at the $5-billion One Beverly Hills condominium and hotel complex in Beverly Hills. For the grounds at El Encanto, "we want to turn it into a mystical garden," said Garrett Cayton, principal of Culver Capital, the Culver City-based investment office for the Cayton family. The hotel, which opened in 1918, will be operated as a boutique property that will not be affiliated with a hotel chain. "We want to control what's on the menu and how the staff are working," Tyler Mateen said The new owners may replace a few rooms with retail offerings such as a coffee shop and perhaps create a membership club on top of the main building in space now used as a conference room. The El Encanto has a five-star rating from Forbes Travel Guide. Hotel sales in California have slowed in recent months due to high interest rates and "a big disconnect" between buyers' and sellers' price expectations, Newport Beach hospitality consultant Alan Reay said. With institutional investors on the sidelines, upmarket properties in coastal communities where it's difficult to build new hotels are often going to buyers with deep pockets who intend to hold them for many years, Reay said. That's the plan for El Encanto, Justin Mateen said. "We want the experience and end result to be amazing," he said. The resort "is something that we're going to hold in our families forever." Sign up for our Wide Shot newsletter to get the latest entertainment business news, analysis and insights. This story originally appeared in Los Angeles Times. Sign in to access your portfolio
Los Angeles Times
08-07-2025
- Business
- Los Angeles Times
Tinder co-founder buys five-star El Encanto resort in Santa Barbara
The five-star El Encanto resort in Santa Barbara, a Hollywood getaway for more than a century where rooms cost north of $1,000 a night, has been sold to Tinder co-founder Justin Mateen for $82.2 million. Mateen bought the historic hotel in one of the city's exclusive hillside neighborhoods with his brother Tyler and Culver Capital. The 7-acre estate with terraced gardens and views of the Pacific Oceans was purchased from Belmond, the hospitality brand owned by luxury retailer LVMH, marking the sale of LVMH's only hotel in the United States. The new owners plan to spend as much as $40 million to upgrade the 90-room resort that boasts its Old Hollywood guests included Clark Gable, Hedy Lamarr and Carole Lombard. 'It has a lot of California's rich history and could be one of the nicest hotels in the U.S.,' Mateen said. 'The bones and the structure are irreplaceable.' The Mateens have been on an investment spree, buying high-profile properties in Southern California locations where it's hard to develop new projects. Last month they paid $69 million for retail property near the legendary TCL Chinese Theatre on Hollywood Boulevard: the Hollywood Galaxy shopping center the the historic Petersen Building next door that was once a Cadillac dealership. Last year the Mateens and their partner Pouya Abdi bought Wilshire Rodeo Plaza, a five-story office building at Wilshire Boulevard and Rodeo Drive in Beverly Hills. They are in the process of signing new retail tenants for the building and planning a rooftop restaurant. The Mateens also bought the HHLA entertainment center in Westchester near Playa Vista last year and are refurbishing it. Among its new tenants will be Meow Wolf, an immersive entertainment firm. Mateen is known for being a co-founder of popular dating app Tinder but is also a solo venture capitalist through his JAM Fund. He and his brother have a strategy to invest in their hometown of Los Angeles during a cooling commercial real estate market because they expect the region to bounce back in the years ahead. El Encanto will remain open during renovations, which will take about three years during the low seasons for the hotel, the buyers said. First up is a makeover of the grounds overseen by the Los Angeles firm of architect Mark Rios, who is also creating botanical gardens at the $5-billion One Beverly Hills condominium and hotel complex in Beverly Hills. For the grounds at El Encanto, 'we want to turn it into a mystical garden,' said Garrett Cayton, principal of Culver Capital, the Culver City-based investment office for the Cayton family. The hotel, which opened in 1918, will be operated as a boutique property that will not be affiliated with a hotel chain. 'We want to control what's on the menu and how the staff are working,' Tyler Mateen said The new owners may replace a few rooms with retail offerings such as a coffee shop and perhaps create a membership club on top of the main building in space now used as a conference room. The El Encanto has a five-star rating from Forbes Travel Guide. Hotel sales in California have slowed in recent months due to high interest rates and 'a big disconnect' between buyers' and sellers' price expectations, Newport Beach hospitality consultant Alan Reay said. With institutional investors on the sidelines, upmarket properties in coastal communities where it's difficult to build new hotels are often going to buyers with deep pockets who intend to hold them for many years, Reay said. That's the plan for El Encanto, Cayton said. 'We want the experience and end result to be amazing,' he said. The resort 'is something that we're going to hold in our families forever.'
Hamilton Spectator
16-06-2025
- Hamilton Spectator
Pulse nightclub: A haunting look inside before the mass shooting site is razed
ORLANDO, Fla. (AP) — Nine years after a gunman opened fire in an LGBTQ+-friendly nightclub in central Florida, killing 49 people, bullet holes can be seen in walls while glittering disco balls and lit-up bulbs on dressing room mirrors make the venue seem frozen in time. The Associated Press and other media outlets on Monday were allowed for the first time inside the Pulse nightclub in Orlando where a gunman opened fire during a Latin night celebration on June 12, 2016, killing 49 people and wounding 53 others. The attacker, Omar Mateen, who had pledged allegiance to the Islamic State group, was killed after a three-hour standoff with police. The viewing came days after survivors and family members of the slain were given the opportunity to walk through the nightclub before it is razed and replaced with a permanent memorial to what was once the worst U.S. mass shooting in modern times. The club had been cleaned, furniture was removed and lighting was installed ahead of the walk-throughs. The Pulse shooting's death toll was surpassed the following year when 58 people were killed and more than 850 were injured among a crowd of 22,000 at a country music festival in Las Vegas. Out of respect for survivors and family members, journalists on Monday weren't allowed to take photos or videos inside the nightclub. About 300 patrons were packed into the 4,500 square foot (418-square-meter) club around 'last call' when Mateen entered the venue and began shooting. Music was blaring from DJ tables and strobe lights lit up the dance floor, according to an incident review by the FBI. The club had a main dance floor to the right of the entrance, a smaller 'Adonis room' behind the entrance and a fenced-in outdoor patio. Bathrooms were along a wall next to the Adonis room. Some patrons on the patio escaped after an employee kicked a hole in a fence. Dozens of others crammed into the bathrooms and a dressing room. Many on the dance floor were gunned down, as Mateen fired 200 rounds in less than five minutes. After officers entered the club, Mateen barricaded himself in one of the bathrooms. Eventually, officers used explosives and an armored vehicle to make a breach in the wall between the two bathrooms and another breach in the wall of one of the bathrooms. On Monday, the covered hole in the wall between the bathrooms was still visible, as was the covered hole in the restroom. Some bullet holes had been plugged and others were covered with white tape. A cash register lay on a desk at the club's entrance and a money safe was hidden to the side of the desk, a testament to a time when cash was more common. A poster at the club's entrance advertised a 'Dominican Pride Night' that was to have taken place two days after the massacre. With the club's power turned back on, a small, circular stage in the Adonis room had rainbow lights rotating underneath it, and the bulbs were lit up in the dressing room where the club's performers used to get ready. Above a stage on the main dance floor, three disco balls glittered from light thrown off from a metallic chandelier. On the main dance floor, part of the wood flooring was pulled up, revealing a concrete floor. On the long bar abutting the dance floor was a sign that said in big orange letters, '# HUGS NOT HATE.' The nightclub is scheduled to be demolished later this year. The city of Orlando purchased the Pulse property in 2023 for $2 million and plans to build a $12 million permanent memorial that will open in 2027. Those efforts followed a multiyear, botched attempt by a private foundation run by the club's former owner. ___ Follow Mike Schneider on the social platform Bluesky: @ Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
