Fairmont Hotels & Resorts will assume management of San Diego’s Grand Del Mar after California-based investment banker Richard Blum took a majority stake in the property.

The hotel, which was built in 2007 and was TripAdvisor’s top-rated luxury hotel in California last year, will be renamed the Fairmont Grand Del Mar and will mark Fairmont’s entry into the San Diego area.

The hotel has 249 rooms and a 21,000-square-foot spa as well as a Tom Fazio-designed golf course and 27,000 square feet of meeting space.

Blum led a group that acquired the Claremont Hotel Club & Spa in Berkeley, Calif., last year. That 279-room hotel, which opened in 1915, will also fly the Fairmont flag after a multimillion-dollar renovation is completed.

Blum is the husband of Sen. Dianne Feinstein (D-Calif.). 

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