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California  + Hospitality  | 

Braemar Buying The Ritz-Carlton Lake Tahoe for $120M

Dallas-based Braemar Hotels & Resorts Inc. is acquiring the 170-room Ritz-Carlton Lake Tahoe in Truckee, CA for $120 million. The company is also acquiring a 3.4-acre plot of vacant land adjacent to the hotel that is being entitled for luxury residential townhome development.

Braemar’s Richard J. Stockton says, “The acquisition of the Ritz-Carlton Lake Tahoe is an opportunity for us to acquire an iconic and irreplaceable luxury resort property with a premier location on the Northstar ski mountain in the world-famous Lake Tahoe area.”

Located in the North Lake Tahoe area, the property is situated mid-mountain at the Northstar Ski Area. It was built in 2009 and also includes 17 suites. The resort also offers an array of amenities, including ski-in/ski-out access, an ultra-luxury Lake Club, a 17,000-square-foot full-service spa, six food and beverage outlets, and more than 37,000 square feet of flexible indoor/outdoor meeting space.

The deal is expected to close by mid-January 2019.

* In January 2019, Kennedy Wilson reported it completed the sale. CBRE’s Mark Mcdermott, Henry Bose and Laurie Lustig-Bower handled the transaction.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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