HFF announces sale of The Landing Tahoe Resort & Spa in South Lake Tahoe, California
LOS ANGELES, CA – March 8, 2018 – HFF announced today that it has closed the sale of The Landing Tahoe Resort & Spa, a 77-room, award-winning, luxury, lakefront resort and spa in South Lake Tahoe, California.
HFF marketed the property on behalf of the seller, an affiliate of Kairos Ventures. DiamondRock Hospitality Company purchased the hotel free and clear of existing debt and unencumbered of a management contract.
The only luxury resort in South Lake Tahoe, The Landing Resort & Spa has accumulated multiple awards and rankings from numerous publications, including Conde Nast, U.S. News & World Report and Travel Weekly. The luxury hotel underwent a multi-million-dollar redevelopment and rebranding by the seller and reopened as The Landing Resort & Spa in December 2013. The hotel features 10,300 square feet of indoor and outdoor function space; the award-winning Jimmy’s Restaurant, which serves contemporary Greek and California cuisine; a wine cellar and lounge; state-of-the-art, full-service spa; heated outdoor pool and hot tub; lakeview patio with fire pits; rooftop deck with fireplace; and fitness center with sauna. The hotel is located at 4101 Lakeshore Boulevard steps from Lake Tahoe and proximate to Heavenly Mountain Resort that provides access to more than 4,800 acres of world-class skiing and snowboarding. Close to the heart of downtown South Lake Tahoe, The Landing Resort & Spa is within walking distance to popular restaurants, bars and casinos.
The HFF investment advisory team representing the seller consisted of managing directors Scott Hall and Tony Malk, senior managing director Paul Brindley and analyst Aaron Lapping.
“DiamondRock’s interest in and purchase of The Landing is indicative of the resort’s incredible quality and the unique vision and stewardship of the seller,” Hall said.
“As a result of Lake Tahoe’s exceptionally high barriers-to-entry, true year-round demand drivers and long-term fundamentals, lakeside hotel investment opportunities appeal to multiple profiles of capital and are in high demand,” Malk added.
Holliday GP Corp. ("HFF"), a California licensed real estate broker, California License #01385740.
About Kairos Ventures
Kairos Ventures is a venture capital firm that invests in groundbreaking startups and research in life sciences, physical sciences, and technology, originating from the top minds of academia and industry. These technologies have the potential to make the world a better place. Visit kairosventures.com for more information.
About DiamondRock Hospitality Company
DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The company, as of the date herein, owns 30 premium quality hotels with over 9,900 rooms. The company has strategically positioned its hotels to be operated both under leading global brands such as Hilton, Marriott, and Westin and boutique hotels in the lifestyle segment. For further information on the company and its portfolio, please visit DiamondRock Hospitality Company's website at drhc.com.
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.