The Coronado Hotel opened in 1888, it was the largest hotel in the World, and the first to have electricity. In 1885, three partners bought
all of Coronado Island for $110,000. What was supposed to be the beginning of the San Diego real estate boom turned into a bust by 1888.
The partners had to borrow $100,000 from John Spreckels the sugar magnate to finish the hotel. By 1890 Spreckels owned the hotel and retained
ownership until 1948.