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Ashford Acquires New Mexico Hotel for $50M
Dallas-based Ashford Hospitality Trust, Inc. acquired La Posada de Santa Fe in Santa Fe, NM for $50 million. This 157-room hotel with 7,810 square feet of meeting space is part of Marriott’s Tribute Portfolio, and is the only full-service Marriott hotel in the market.
The distinctively Southwestern-designed asset is within the city’s historic area and benefits from nearby art galleries, retail, restaurants, and cultural attractions. The hotel’s Spa Sage was ranked 4th in USA Today’s Best Hotel Spa rankings. The market has significant hurdles to entry, with no competitive full-service hotels under construction.
Remington Lodging will manage the hotel, and expects to achieve operational synergies in conjunction with existing operations in the Santa Fe market. This acquisition is the second transaction to benefit from the Enhanced Return Funding Program with Ashford Inc.
For comments, questions or concerns, please contact Dennis Kaiser
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