Moxy The Waterman
StonePark Capital Acquires The Waterman Hotel in Santa Barbara, California
StonePark Capital is pleased to announce the recent acquisition of The Waterman, a 31-room hotel, located in the Funk Zone neighborhood of Santa Barbara, California, at 12 E. Montecito Street. Built in 2014, The Waterman has been a welcome addition to the region, offering visitors a unique lifestyle hospitality option. The property features stylishly fun guest rooms and lively common areas, including a swimming pool and an outdoor gathering area directly on State Street.
Photo by Marriott
Midway through a transition from an independently branded hotel, The Waterman will join Moxy Hotels, part of Marriott Bonvoy's portfolio of 30 extraordinary brands. This transition will take approximately 12 months as the StonePark team completes upgrades to the common areas and guest rooms that will elevate the visitor experience even further. The hotel will remain open throughout the upgrades, which are expected to be complete by Summer 2023.
The Waterman represents the first of two Marriott projects for StonePark Capital in Santa Barbara, with the 122-room "Courtyard by Marriott" at 1601 State Street anticipated to open this fall. StonePark Capital has teamed up with Azul Hospitality Group to oversee the management of both of these hotels.