El Monte Sagrado bought by Heritage Hotels & Resorts

US: The 84-room El Monte Sagrado Living Resort and Spa in Taos is being bought by an investment group led by Jim Long of Heritage Hotels & Resorts.

US: The 84-room El Monte Sagrado Living Resort and Spa in Taos is being bought by an investment group led by Jim Long of Heritage Hotels & Resorts.

Originally opened in 2003 and expanded in 2007, El Monte Sagrado is the only hotel in Taos, and one of only 13 in New Mexico, with an AAA Four Diamond rating.

“We like the bohemian quality of the property,” said Long. “That’s a defining quality of Taos. It’s what attracts visitors globally, but it’s not just tourism. Taos attracts unique people as residents. It has a history of unique personalities.”

The hotel cost a combined $75 million to develop in its two phases, Long said, adding, “our acquisition cost is a small fraction of that number”.

The seller, the Kessler Collection, was responsible for the hotel’s expansion of 48 rooms and 7,000 square feet of meeting space that opened in 2007. Kessler is selling the property as it shifts its focus to the southeast.

“Taos has a very unique culture that demands management time,” said chairman and CEO Richard Kessler. “We found a company, Heritage Hotels & Resorts, that is heavily involved in ownership and management in New Mexico and whose culture is committed to the Southwest.”

Heritage Hotels currently operates eight hotels in New Mexico, including the eight-room Palacio de Marquesa boutique hotel in Taos. El Monte Sagrado will be its ninth hotel. A tenth hotel, the 118-room Hotel Chaco, is under construction near Old Town in Albuquerque.

“Our brand is continually evolving,” said Long. “We’re definitely tending to buy and build the best in class in assets in New Mexico.”

www.hhandr.com

Be in the know.

Subscribe to our newsletter »