A historic, luxury hotel in the hills of Santa Barbara, California, is under new ownership.

Brothers Justin and Tyler Mateen and Culver Capital purchased the El Encanto Hotel, a 90-room property that originally opened in 1918, for $82.2 million from LVMH, the French luxury giant, the buyers said this week.

“The beauty of the American Riviera rivals the best coastlines in Europe but is less than 90 minutes from Los Angeles and just a direct flight from many major US cities,” Justin Mateen, who cofounded the dating app Tinder, said in a statement.

“El Encanto has an authentic heart and soul unlike any property I’ve visited in California,” Tyler Mateen said. “We will bring its rich history and timeless allure to the forefront of every aspect of the guest experience.”

LVMH bought Belmond, the hotel company that owned the El Encanto, in 2018. The property was LVMH’s only hotel in the US, though the company’s Bvlgari Hotels & Resorts collection plans to open a hotel in Miami Beach in 2028.

The buyers said they plan to make changes to the property and that it will remain open during the transition.

See inside the historic hotel.

El Encanto sits in the Santa Barbara hills overlooking the Pacific

Santa Barbara, located about 95 miles from LA, has been nicknamed the “American Riviera” due to its desirable weather and gorgeous coastline.

The hotel sold for $900,000 per room

There are 90 rooms at the hotel, which sold for $82 million, putting the per-room price at around $900,000. A weekend stay at the hotel in August is currently going for around $1,500 per night, according to the booking site.

El Encanto spans seven acres

The hotel includes more than 30 buildings, lush landscaping, a spa, and a pool that overlooks Santa Barbara.

Plenty of celebrities have stayed at El Encanto over the years

El Encanto was popular with the elite of Hollywood‘s Golden Age, welcoming guests such as Clark Gable and Carole Lombard. Modern celebrities who have stayed there include Gwen Stefani and Leonardo DiCaprio. President Franklin D. Roosevelt and John F. Kennedy Jr. also stayed at the hotel.

The hotel is known for its Spanish-Colonial architecture and California bungalows

“This property embodies the essence of California living and offers an experience like no other hotel on the Central Coast,” Garrett Cayton of Culver Capital said in a statement.

The bathrooms have heated stone floors

Rooms on the property include marble bathrooms with heated stone floors.

The pool overlooks Santa Barbara and has views of the Pacific

The outdoor pool is open year-round.

The hotel has several levels of suites

The largest suite, the Oak Tree Suite, is 1,650 square feet and sleeps five.

The buyer said any upgrades would reflect the property’s history

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