Restoring Luster to an Aging Jewel
Built in 1888, the Hotel Del Coronado is a National Historic Landmark, recognized worldwide as a premier beachfront resort. When Lowe became involved in 1997 it was in poor condition and underperforming; Lowe created a plan to restore and reposition this one-of-a-kind property. Lowe implemented a comprehensive $70 million plan to preserve and restore the historic hotel’s character, including a capital improvement plan to correct seismic issues, update the outmoded HVAC system, add a conference center, expand the spa and fitness center, relocate and improve entrances, add subterranean parking and correct myriad other infrastructure deficiencies. In addition, Lowe created an expansion plan to add a 20,000 square foot conference center and 230 new guest accommodations in five new structures. Lowe also completed significant open space and perimeter enhancements to improve pedestrian circulation and public beach access, creating a stronger connection between the hotel, Coronado’s downtown and the beach. Lowe successfully processed and obtained approval for its expansion plan, selling the property in 2003 with entitlements in place.