Bethesda, Md.-based DiamondRock Hospitality Co. bought the Shorebreak Hotel in Huntington Beach for $58.5 million, or nearly $373,000 per room.
The 157-room boutique hotel opened six years ago across the street from the Huntington Beach Pier.
Kimpton Hotels & Restaurants was brought on as the new manager for the project, according to DiamondRock.
DiamondRock said the hotel had revenue per available room of about $176 in 2014, average daily rates of $213, and was 83% occupied.
The real estate investment trust owns 28 hotels, including four properties on the West Coast.
The Shorebreak property is part of the Strand mixed-use development at Fifth Street and Pacific Coast Highway.
The 97,000-square-foot retail portion of the Strand sold this month to Dallas-based Cypress Equities for an estimated $64 million.
