Lowe Acquires Miramonte Resort

Lowe Enterprises Investment Management (LEIM) has acquired the Miramonte Resort & Spa in Indian Wells, Calif. from Marcus Hotels and Resorts, a division of The Marcus Corporation, on behalf of an investment client. Destination Hotels and Resorts, a LEIM affiliate, will operate the 215-room property.

“Miramonte is a beautiful property in a premier location in the heart of the Palm Springs area desert communities,” said Bleecker Seaman, executive vice president of LEIM. “It is located on Highway 111, the major thoroughfare through the region that also is the commercial hub for the area with distinctive shops and dining as well as many golf courses and other recreation options.”

The Miramonte Resort & Spa is an upscale, full-service resort located in Indian Wells, Calif., an exclusive suburb of Palm Springs. The hotel was built in 1963 as Erawan Gardens. It closed in the late 1990s for a $28 million renovation before reopening as Miramonte Resort in 1998. In May 2004, the resort opened THE WELL Spa, a $3.5 million, 12,000-square-foot destination wellness facility. Lowe plans to invest more than $5 million in renovations to guest rooms, meeting space and public areas.

“Miramonte is an ideal addition to our family of unique hospitality experiences,” said Charlie Peck, president and chief operating officer of Destination. “The property is one-of-a-kind in the Palm Springs market and we will make it even more distinctive through intimate guest service modeled after our other successful resort properties such as Royal Palms in Phoenix and L’Auberge Del Mar in California.”

The Tuscany-themed property, set on 11 acres, includes a restaurant, lobby lounge, gift shop, two outdoor pools, two hot tubs, an exercise room and 12,000 square feet of indoor meeting space, in addition to the spa. Guests at the resort also have access to the adjacent Golf Resort at Indian Wells, winner of Golf Magazine’s Silver Medal Award. The property offers convenient access to a wealth of activities in the Palm Springs area including tennis, hiking, rock climbing and ballooning.

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Destination currently manages the Shadow Mountain Resort in Palm Springs and The Reserve a private golf community originally developed by Lowe Enterprises.
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