The historic Inn at Morro Bay, troubled in recent years, has a new owner.
Pacifica Host Hotels, a San Diego-based hotel management company, bought the 98-room, 4,000-acre aging property, according to Oliver Shah, agent for the Atlas Hospitality Group, which brokered the deal.
The Inn, formerly half-owned by local real estate mogul John King, fell into foreclosure last year. According to new General Manager Patrick Sheridan, the Inn will be going through renovations in fall 2011, but will retain certain local favorites, such as the Friday night jazz set—at least for now.
Pacifica Vice President of Marketing and Sales Michael de Jesus confirmed the company purchased the property for $9 million.