The recognizable landmark is still considered a destination for wealthy travelers.
The historic Hotel Del is going to become a Hilton-owned establishment by the end of July.
The hospitality chain will add the 129-year-old property to their Curio Collection, a group of upscale hotels according to their website.
Built in 1888, the Hotel Del is a 28-acre property and has been a National Historic Landmark since 1977.
Global head of Curio for Hilton Worldwide, Mark Nogal, told the Union-Tribune the landmark will not undergo any drastic changes after the turnover.
“So quite literally, there will just be a couple plaques near the front door because we don’t want to change that independent identity that the Del has. It will always be the Hotel del Coronado," he reportedly said.
Curio is hoping to make Hotel Del a part of its portfolio by the end of July reports NBC 7.
The company already owns high-end properties in Arizona and California including the Hotel La Jolla.
Famous not only for its beach front setting and red-topped roof, but it was also used as the location spot for the 1959 picture “Some Like it Hot” starring Marilyn Monroe.
With 700 rooms and 11 restaurants, the Hotel Del is still considered a five-star destination for societies wealthiest travelers.