He acquired control of the Coronado Beach Company, the Hotel del Coronado and Coronado Tent City; he bought the San Diego street railway system, changing it from horse power to electricity, in 1892. The Hotel del Coronado was owned by the Coronado Beach Company which was originally capitalized with US$3 million. At the time of capitalization the original company directors were E.S. Babcock, John D. Spreckels, Captain Charles T. Hinde, H.W. Mallett, and Giles Kellogg. The Coronado Beach Company was responsible for numerous other investments in the Coronado, California, area. Before investing in the Coronado Beach Company, Spreckels waited for his close friend—Captain Charles T. Hinde—to join him. They jointly invested and managed new businesses.