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Tinder co-founder continues to build his empire with $120M project
Jul 13, 2025
The founder of Tinder has moved away from the apps and on to building a Southern-California real estate empire.
Justin Mateen purchased a luxury five star resort in Santa Barbara, California for $82.2 million and intends on making major changes, in his latest real estate venture.
El Encanto looks over the Pacific Ocean and charges guests over $1,000 a night for a luxury experience in one of its 92 rooms across the seven acre estate.
It boasts a 'serene and quiet' atmosphere situated on the Riviera, Forbes called it 'an elegant Santa Barbara hideaway'. Guests can enjoy sweeping views from an array of Riviera-inspired bungalows and villas.
Mateen purchased the hotel from Belmond, the hospitality company of retailer LVMH. El Encanto was their only hotel in the United States. He embarked on this project alongside his brother Tyler Mateen and Culver Capital, an investment banking and business consulting firm.
For Mateen, this hotel is a long-term project. He told LA Times he hoped to do $40 million in renovations and restore the hotel to its former glory.
'It has a lot of California’s rich history and could be one of the nicest hotels in the U.S.,' he said. 'The bones and the structure are irreplaceable.'
He told Robb Report: 'We will be pouring love and resources into this iconic property to continue that legacy and ensure that it remains a top destination for visitors from around the world and down the block.'
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