Most Staff Safe as Smith Sells Hotels

Most of the more than 650 employees working at hotels being sold by Oxnard developer Martin V. “Bud” Smith will keep their jobs, according to the company hired to manage the hostelries.

Tiger Real Estate Partners, the New York-based investment concern buying the bulk of Smith’s real estate empire, announced Thursday that it had picked Ohio-based Boykin Management Co. to oversee nine hotels in the region.

About 660 employees work at these hotels, among them the Oxnard Hilton Inn and the Country Inns in Camarillo, Port Hueneme, Ventura and Calabasas.

“We plan to hire the majority of the existing employees at the Smith hotel properties,” said Boykin Management executive Tom O’Leary in a written statement.

“They will become Boykin employees as of March 1.”

Tiger, operating locally as Channel Islands Harbor Associates, is expected to close the estimated $150-million deal--including the purchase of commercial and residential properties--with Smith on Feb. 29. Headquartered in Cleveland, Boykin manages two hotels in California: the Berkeley Marina Marriott and the Best Western Hanalei Hotel in San Diego.

As part of the Tiger deal, Boykin Management will also oversee the Del Norte Inn in Camarillo, the Danish Country Inn in Solvang, the Casa Sirena Marina Resort in Channel Islands Harbor and the Santa Maria Inn.

Tiger announced two weeks ago that the Oxnard office of the Sares-Regis Group real estate firm would manage the other properties in Smith’s portfolio, excluding the hotels.

Tiger controls a $784-million real estate investment fund. Smith plans to retain 18 properties, including the Wagon Wheel bowling alley and motel complex, which he intends to redevelop.