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October 11, 2018 Comments Off on Ashford Lands La Posada de Santa Fe for $50M Views: 3453 Arizona New Mexico, National News, Southwest

Ashford Lands La Posada de Santa Fe for $50M

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Dallas-based Ashford Hospitality Trust, Inc. is acquiring the 157-room La Posada de Santa Fe in Santa Fe, NM for $50 million. The boutique hotel property is located on more than five landscaped acres near the historic Santa Fe Plaza in northern New Mexico, roughly 60 miles north of Albuquerque.

Ashford Trust’s Douglas A. Kessler says, “The acquisition of La Posada provides us the opportunity to own another high-quality asset in this attractive market where we have been a long-time owner of the Hilton Santa Fe.”

The rooms are spread across 26 structures throughout the resort, which offers an array of amenities, including the award-winning 4,500-square-foot full-service Spa Sage, four food and beverage outlets, 7,800 square feet of flexible indoor/outdoor meeting space, and an outdoor pool. The property, which will be managed by Remington Lodging, received more than $6 million in capital improvements during the past few years.

The acquisition is expected to close in late October.

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