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US: Southern California property changes hands and becomes first Autograph Collection member in the state.
Lake Arrowhead Resort & Spa has been bought by Carey Watermark Investors (CWI) and will become the first Californian member of Marriott International’s Autograph Collection of boutique hotels next year.
CWI purchased 97 per cent of the 30-year-old property from Pacific Capital Investors for $26.5 million, including debt. The 173-room lakefront property, which includes 20,000 square feet of meeting space as well as a private beach and dock, is 90 miles north-east of Los Angeles. It was renovated in 2007 and is undergoing another $3.7 million worth of upgrades that will be completed by early 2013.
The Autograph Collection now has 34 members, and aims to have 55 by the end of 2012.
www.laresort.com
www.autograph-hotels.marriott.com
