The Waterman, a 31-room hotel in the Funk Zone neighbourhood of Santa Barbara, California, has been acquired by StonePark Capital. Built in 2014, the hotel has offered visitors a unique lifestyle hospitality option in the region with its stylishly fun guestrooms and lively common areas, including a swimming pool and an outdoor gathering area.
The Waterman is midway through a transition from an independently branded hotel to joining Moxy Hotels, part of Marriott Bonvoy's portfolio of 30 notable brands. As the StonePark team finalises its upgrades to the common spaces and guestrooms, the transition will take approximately 12 months. The hotel will remain throughout the renovations.
The Moxy Waterman marks the first of two Marriott projects for StonePark Capital in Santa Barbara, with the 122-room "Courtyard by Marriott" at 1601 State Street slated to open later this year. StonePark Capital will oversee the management of both hotels hand-in-hand with Azul Hospitality Group.
