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| Borrego Springs Resort & Spa |
ATLANTA—Hospitality Ventures Management Group (HVMG) has signed a management agreement to operate the 100-room and suites Borrego Springs Resort & Spa in Borrego Springs, CA. The property was recently acquired by Borrego Nazareth LLC.
“The Borrego Springs Resort & Spa marks the sixth independent full-service hotel and second hotel in Southern California to be managed by HVMG,” said Robert S. Cole, HVMG president and CEO. “With most industry experts predicting that overall occupancy and room rates will continue to grow but at a much slower rate, the real opportunity for savvy owners at this phase of the cycle is to maximize profitability through improved operations and service delivery, aggressive and distinctive revenue management and marketing, and a laser focus on costs and margins.
Borrego Springs Resort & Spa is a full-service golf and spa resort situated in the Anza-Borrego Desert. The resort offers deluxe rooms with large bathrooms, while the suites offer living rooms, two televisions, a mini refrigerator and microwave. Each guestroom and suite also offers outdoor seating on a private terrace or balcony with either a poolside or mountain view. Dining options include the Arches Restaurant and Lounge, which offers American and Southwestern cuisine.
The Spa Serenity features its own swimming pool and private cabanas. It offers a range of treatments from massages, facials, wraps and scrubs to manicures and pedicures.
Additionally, the resort has more than 5,000 sq. ft. of meeting space. The layout can accommodate up to 250 guests in a business-meeting format and weddings and other social events of up to 150 guests.
“We believe several factors favor the outlook for increased activity in hotel acquisitions and third-party management contracts over the next several years,” Cole said. “In addition to forecasts of slowing RevPAR growth, there is a significant, multibillion-dollar portfolio of CMBS loans coming due over the next two years. There also will be another wave of required franchisor property improvement plans. These factors will encourage some owners to sell now and harvest their returns while a new generation of owners will look for the upside that this phase of the cycle creates. This environment positions HVMG well, with expertise spanning all sectors and segments of the industry, to take full advantage of this stage of the industry cycle.”
