Tinder co-founder Justin Mateen and his brother Tyler Mateen, in partnership with travel advisor Garrett Cayton of The Discerning Travellers and the Cayton family’s Culver Capital, have acquired the El Encanto Hotel in Santa Barbara for US$82.2 million from Belmond, the luxury hospitality brand owned by LVMH.

The sale marks LVMH’s exit from its only hotel property in the US Originally opened in 1918, El Encanto is a 90-bungalow luxury property in the Santa Barbara hills with Pacific Ocean views.

The new owners plan to renovate the property while preserving its historical character. It will be run as an independent boutique hotel and is now a part of the Leading Hotels of the World portfolio.

“El Encanto has an authentic heart and soul unlike any property I’ve visited in California,” said Tyler Mateen. “We will bring its rich history and timeless allure to the forefront of every aspect of the guest experience.”

Cayton, a luxury travel advisor affiliate of Coastline Travel Group and Virtuoso, says that El Encanto is on par with some of the best hotels in the world.

“I have brought travelers to and visited the greatest hotels in the world,” he said. “Very few possess the authenticity and rich history of El Encanto. This property embodies the essence of California living and offers an experience like no other hotel on the Central Coast.”

Justin Mateen emphasized the hotel’s accessibility – adjacent to Los Angeles and a direct flight from major US cities – and its historic allure.

“El Encanto was the exclusive hideout during the golden era of Old Hollywood,” he said. “We will be pouring love and resources into this iconic property to continue that legacy.”

The property will stay open year-round during the transition and enhancement, which will encompass “every aspect of the property, from bungalows and spa offerings to culinary concepts and garden landscaping, blending old-world elegance with modern hospitality.”

Overseeing design and construction management is Tyrone McKillen, a Santa Barbara-based developer. Landscape architect Mark Rios will oversee the resort’s landscape architecture changes.

Source: TravelAge West

The fault lines run between Ravi Ghai, the son of Kwality Ice Creams founder I.K. Ghai, and his son Gaurav Ghai. The dispute involves shares ofGraviss Hospitality Ltd, the ₹300-crore market capitalization company that owns and operates the InterContinental Hotel on the city’s iconic Marine Drive promenade.

As part of a family settlement agreement signed in 2021 and a supplementary agreement signed in 2023, Ravi Ghai transferred all his stake in all the group’s private companies to his son for a payment of ₹105 crore. Mint has seen a copy of these agreements.

Ravi Ghai also received payments recently when the Graviss group exited a joint venture making non-dairy cream. In all, he received ₹235 crore net of taxes between 2021 and 2024.

As per the family settlement agreement, the father, 83, was to hold on to 51% of the promoters’ stake in listed Graviss Hospitality Ltd and remain as the non-executive chairperson. He would receive monthly payments worth ₹1.5 crore a year as business expenses from the listed company.

Upon his demise, his shares in the company were to be transferred to his son, Gaurav Ghai, who holds 49% of the promoters’ stake. In all, the promoters owned 74.92% of Graviss Hospitality as of 30 June.

However, Ravi Ghai has refused to honour this agreement, his son Gaurav has alleged.

This was due to the family settlement agreements failing to achieve their desired outcome of family harmony, said an email by Vimadalal & Co., former lawyers of Ravi Ghai–Mint has reviewed the email.

Gaurav did not invite his father to his son’s wedding in Dubai, causing him humiliation, alleged the email. Monthly payments from the listed company to the senior Ghai also stopped from March this year, the lawyer claimed.

Citing these reasons, the father terminated the two family settlement agreements, the letter said.

Subsequently, in May, the two camps agreed to appoint former Bombay High Court chief justice R.D. Dhanuka as an arbitrator to resolve their disputes, according to the letters between the lawyers of the two camps, which Mint has reviewed.

However, the same month, Ravi Ghai filed a police complaint against his son and his family members, alleging that he was made to sign the 2023 supplement agreement without his explicit knowledge.

In June, the senior Ghai emailed justice Dhanuka, alleging that Vimadalal had terminated the family settlement agreements and appointed justice Dhanuka as the arbitrator without his consent. The former high court chief justice has since recused himself from the matter.

When contacted, Sandip Vimadalal, law firm’s proprietor, refused to comment citing that it was privileged communication between an attorney and their client.

Meanwhile, Gaurav Ghai said after reviewing the family settlement agreements and conducting a preliminary enquiry, the Mumbai Police found no criminality and have dismissed the complaint filed by his father without filing any first information report (FIR).

“This is the last legacy asset that my grandfather I.K. Ghai bought. The last thing I want is for this to go away. I am fighting to protect my family’s legacy,” Gaurav Ghai said.

In an emailed response to Mint’s queries, Ravi Ghai said, “I have categorically denied the existence and validity of any Supplemental Family Settlement Agreement allegedly dated 25.08.2023.” He alleged that his signatures in the agreement had been forged. He also cast aspersions on the notary and attestation authorities who signed the agreements, saying he never visited a notarial authority.

Ravi Ghai also disputed that he received ₹235 crore as part of the two family agreements.

The senior Ghai, however, acknowledged the closure of his complaint by the Mumbai Police. He said he was aggrieved by the closure and now has approached the Bombay High Court with the same complaints he had lodged with the police.

The disputed company represents about 5% of the revenues of the Graviss Group, Gaurav Ghai said. The group’s main business is manufacturing ice creams and other food products. The group is the sole manufacturer and distributor of Baskin Robins in India. It also operates the Kwality brand outside India in markets like the Middle East and UK.

Hindustan Unilever Ltd had acquired the Kwality brand from Ravi Ghai and his family in 1995. The consumer goods major sells Kwality Wall’s branded ice cream in India.

NEW DELHI: Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, is set to launch its Rs 749.6-crore initial public offering (IPO) on July 24.

The IPO is scheduled to close on July 28, and the one-day bidding for the anchor investor will open on July 23, according to the red herring prospectus (RHP).

Brigade Hotel Ventures’ IPO is entirely a fresh issue of equity shares with no offer-for-sale (OFS) component.

Of the total issue proceeds, Rs 468.14 crore will be used for debt payment, Rs 107.52 crore will be utilised for the purchase of an undivided share of land from the promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes.

Earlier this month, Brigade Hotel Ventures raised Rs 126 crore by selling equity shares to 360 ONE Alternates Asset Management.

Brigade Hotel Ventures Ltd is a subsidiary of Bengaluru-based real estate company Brigade Enterprises Ltd (BEL).

BEL entered into the hospitality business in 2004 with the development of its first hotel, Grand Mercure Bangalore, which commenced operations in 2009.

The company has a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and GIFT City (Gujarat) with 1,604 keys.

These hotels are operated by global marquee hospitality companies, such as Marriott, Accor and InterContinental Hotels Group.

JM Financial and ICICI Securities are the book-running lead managers to the issue. Shares of the company are expected to list on the bourses on July 31.