resort acquisition
Trinity Investments and Partners Group Acquire The Scottsdale Plaza Resort & Villas
Trinity Investments | April 8, 2024
37.4-acre resort in Paradise Valley includes 404 hotel rooms and suites PARADISE VALLEY, Ariz.--A joint venture between Partners Group, a leading global private markets firm, acting on behalf of its clients, and funds managed by Trinity Investments (“Trinity”), announced today the acquisition of The Scottsdale Plaza Resort & Villas (the “Resort”), located in Paradise Valley, Arizona. The Scottsdale Plaza Resort & Villas features 404 rooms spread across the central hotel and surrounding villa suites, as well as 50,000 square feet of meeting space. The transaction also includes the potential for expansion with entitlements...
Maine-Based Hotelier Tim Harrington Acquires The Dunes on the Waterfront in Ogunquit
November 10, 2023
OGUNQUIT, ME, November 10, 2023 - Tim Harrington, hotelier, real estate developer, entrepreneur and owner of several award-winning properties, has acquired The Dunes on the Waterfront, adding to his number of boutique properties in Maine. Harrington purchased the property with his Batson River Partner Kevin Lord. Set to open for the summer 2024 season, The Dunes overlooks Ogunquit Beach and is situated among sandy dunes, providing inspiration for its namesake along with an ideal setting for a seaside getaway. Originally purchased in 1935 as farmland, The Dunes property is one of Maine’s original cottage colonies, and has welcomed gues...
DiamondRock Hospitality Company Acquires Chico Hot Springs Resort in Paradise Valley, Montana
DiamondRock Hospitality Company | August 3, 2023
BETHESDA, Md., Aug. 3, 2023 -- DiamondRock Hospitality Company (the "Company") (NYSE: DRH) today announced that it has acquired the fee-simple interest in the Chico Hot Springs Resort (the "Resort"), a lifestyle resort in Paradise Valley, Montana and near Yellowstone National Park. The purchase price for the Resort and adjacent ranch (collectively, "Chico") is $33 million. Chico was acquired from an individual owner-operator and is an independent resort, completely unencumbered by brand and management agreements. The $27 million purchase price for the 117-room, 153-acre Resort represents an 8.1% capitalization rate on 2022 net opera...
