The El Encanto hotel in Santa Barbara, previously owned by the French luxury brand LVMH, is now in the hands of Justin Mateen, one of the co-founders of Tinder. Tyler Mateen, Justin’s brother, and Culver Capital were also partners in the sale; the 90-room property sold for $82.2 million.

LVMH Moët Hennessey Louis Vuitton SE, the French luxury conglomerate behind some of fashion’s biggest brands, is selling its only hotel in the U.S. El Encanto, a 90-room luxury hotel in Santa Barbara,

LVMH has just sold its only U.S. hotel, the five-star El Encanto nestled in Santa Barbara enclave, to Tinder founder Justin Mateen for $82.2 million.