Tinder Co-Founder and Travel Advisor Acquire El Encanto Hotel for $82.2 Million
Belmond exits the U.S. hotel market as the historic Santa Barbara resort enters a new chapter under the Mateen brothers and Cayton family.
Photo: Courtesy of El Encanto
In a headline-making move for California’s luxury hospitality scene, the historic El Encanto hotel in Santa Barbara has been sold by Belmond—part of LVMH’s portfolio—to a new ownership group that includes tech entrepreneur Justin Mateen, his brother Tyler Mateen, and luxury travel advisor Garrett Cayton, principal of The Discerning Travellers and affiliate of Coastline Travel and Virtuoso. The purchase price: $82.2 million, or approximately $900,000 per key.
The sale marks LVMH’s formal exit from its only hotel property in the United States, which was acquired in 2018 through its $2.6 billion purchase of Belmond. El Encanto, a storied 90-room estate with Pacific Ocean views, will now be repositioned as an independent boutique property under the Leading Hotels of the World.
The new owners plan a three-year, $40 million phased renovation, which will be completed without closing the hotel. Enhancements will span the bungalows, spa, culinary programs, and extensive terraced gardens. Santa Barbara-based developer Tyrone McKillen will lead construction management, while architect Mark Rios, who is currently designing the botanical gardens at One Beverly Hills, will reimagine the landscaping.
“El Encanto has an authentic heart and soul unlike any property I’ve visited in California,” said Tyler Mateen, who emphasized the group’s intent to preserve its heritage while elevating the guest experience.
For Cayton, the project represents a full-circle moment. “I have brought travelers to and visited the greatest hotels in the world,” he said. “Very few possess the authenticity and rich history of El Encanto. This property embodies the essence of California living.”
Originally opened in 1918, the resort is woven into the fabric of Santa Barbara’s Riviera. Past guests have included Clark Gable, Carole Lombard, Barbra Streisand, and Leonardo DiCaprio. The Mateens say their long-term vision includes a potential membership club, retail offerings, and enhanced wellness programming, as reported by the Los Angeles Times.
