In March 2021, Consortium Holdings founder Arsalun Tafazoli purchased the 131-room, grand colonial-style The Lafayette Hotel in San Diego's North Park community for $25,815,000. The historic hotel was previously owned by developer Jay Wentz of JCG Development since he purchased it in 2004 for $11 million. The Lafayette was originally built in 1946 by former car dealer and developer Imig Manor. The hotel was then purchased in the 1950s by hotel magnate and then-San Diego Chargers owner Conrad Hilton.
Tafazoli is in the process of implementing design upgrades on The Lafayette property, including installing a new bar & restaurant concept in the space that long housed Red Fox Steakhouse & Piano Bar, which opened across the street in a new building earlier this year. There is also a multi-lane bowling alley being constructed where the Improv Theater used to be on the left side of the building and a Mezcaleria bar being built in the former basement area. Like anything Consortium does, expect a focus on design. It's also rumored that a "wellness component" will be added to the property.
