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California  + Inland Empire  + Hospitality  | 

Palm Springs Hotel Sale Sets Per-Key Pricing Record 

Palm Springs-based Foxden Hospitality completed the sale of its boutique Hotel, Dive Palm Springs, to Mariners Group for $5.15 million. At $468,000 per key, the deal reportedly marks the highest recorded price for any hotel in Palm Springs and the surrounding Coachella Valley. 

“Creating Dive was one of the greatest joys of my career,” said Dale Fox, founder and CEO of Foxden. “It was a deep expression of my personal passion for hospitality and for design. It’s my pleasure to see our beloved hotel find such a great new home with Mariners Group.”  

Despite multiple bids, Foxden agreed to sell to Mariners Group based on its extensive experience in hospitality and existing presence in the Palm Springs market. 

“The attention to detail and thoughtful concept by Foxden Hospitality is what allowed Dive Palm Springs to trade at a record price,” added Adam Gilbert, president, The Firm, who brokered the deal.  

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition