Old Town’s Fiesta de Reyes, the bustling courtyard of cantinas, shops, and the historic Cosmopolitan Hotel, is not going anywhere anytime soon. Old Town Family Hospitality Corp. has locked in a 30-year extension of its concession deal with California State Parks and sold a majority stake to national park operator ExplorUS, with about $10 million slated for capital improvements over the life of the contract and an immediate $3 million earmarked to redevelop Parcel 20, the former El Fandango site. The Ross family will stay in the mix and keep equity, while ExplorUS brings its national-scale operations playbook to the property.
As reported by the San Diego Business Journal, the agreement, finalized late last year, incorporates a 30-year extension with the state and transfers a majority interest to ExplorUS. The outlet notes that the long-term $10 million figure is earmarked for capital improvements, while $3 million is committed specifically for Parcel 20, an approximately 8,000-square-foot corner that once housed El Fandango.
ExplorUS, a Kansas-based concessions operator that already runs food, lodging and retail in parks across the country, is billing this as its first meaningful move into the San Diego market. The company says the partnership will give it room to invest in visitor services and facility maintenance. ExplorUS has been chasing park contracts nationwide and emphasizes large-scale investment in infrastructure and staffing, according to a company release from ExplorUS.
Even with the majority sale, the Ross family is not exiting the scene. President Chuck Ross will remain on board, and Ryan and Brandon Ross will keep equity stakes, the San Diego Business Journal notes. Fiesta de Reyes’ official site says the plaza is home to 19 locally owned specialty shops, three restaurants and the 10-room Cosmopolitan Hotel, and the family credits itself with stewarding the property for more than 15 years.
What Changes And Who Signs Off
Public records and liquor license filings point to an operational reshuffle, with Charger Hospitality LLC and Ortega National Parks LLC now listed in connection with the licenses. The shift has raised questions about who will be running the day-to-day operation, according to SanDiegoVille. Any change to state park concession agreements or liquor licenses will have to clear California State Parks and the state Alcoholic Beverage Control agency before the transition is fully locked in.
For Old Town, the deal is being framed as a blend of local stewardship and outside capital. Since 2009, Ross-led efforts have helped revive Old Town’s tourism pull, and the new wave of funding is pitched as a way to freshen up aging facilities while keeping the plaza’s cultural programming intact. At the same time, merchants and preservation advocates will be watching closely to see how a national concessionaire handles the balance between streamlined operations and the small-business character that has defined Fiesta de Reyes for years.
Next Steps
The operational transition is expected to begin January 1, with state approvals and license transfers still in the queue, according to SanDiegoVille. Redevelopment of Parcel 20 and the first rounds of maintenance work are anticipated to roll out once permits are secured and the state signs off on the updated agreements.
