San Diego's ultra-luxury resort has a new owner, with Blum Capital Partners picking up a majority stake in the 249-room Grand Del Mar. The five-star resort was rated by TripAdvisor as California's most luxurious hotel in 2014. Grand Del Mar includes a 21k SF spa; eight, two-story villas; and an 18-hole Tom Fazio-designed golf course. Blum paid $228M, according to San Diego Source. Blum also tapped Fairmont Hotels & Resorts to take over management of the hotel and rebrand it Fairmont Grand Del Mar. [SDS]
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