Meriwether acquired the Cobblestone Inn in 2015. Late re-branded as “The Hideaway,” the 24-room boutique hotel is located south of Ocean Avenue, in the geographic center of Carmel Village, only ten blocks from the beach. Carmel’s moderate year-round climate, dining, shopping and world-class golf create an environment for year-round enjoyment.
Following a complete $5.5MM renovation budget, The Hideaway is considered amongst the finest boutique hotels in Carmel. The property was sold in 2022 and generated equity multiples in excess of 2.5x and a nearly 20% IRR.