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July 12, 2015

Ashford Hospitality completes $85m acquisition of Bardessono Hotel and Spa

Real estate investment trust Ashford Hospitality Prime has completed the acquisition of the leasehold stake in Bardessono Hotel and Spa, in a previously announced deal worth $85m.

Bardessono

Real estate investment trust Ashford Hospitality Prime has completed the acquisition of the leasehold stake in Bardessono Hotel and Spa, in a previously announced deal worth $85m.

Located in Yountville, California, the 62-room Bardessono Hotel and Spa is a Leadership in Energy and Environmental Design (LEED) Platinum-certified hotel in California.

The property is one of three LEED Platinum-certified hotels in the US.

"The award-winning Bardessono Hotel and Spa provides us with a foothold in Napa Valley, one of the strongest and most desirable lodging markets in the country."

The hotel houses large, well-appointed guest rooms and suites with private patios / balconies, Lucy restaurant and bar, an on-site spa, fitness center and indoor and outdoor meeting space spanning 6,065ft².

It also includes a rooftop resort-style pool, landscaping and water features, a vegetable garden, high-profile art sculptures and carbon fibre bicycles and Lexus Hybrid vehicles are available for guest use.

Ashford Prime chairman Monty J Bennett said: "The award-winning Bardessono Hotel and Spa provides us with a foothold in Napa Valley, one of the strongest and most desirable lodging markets in the country with very high barriers to entry and minimal new supply.

"Given the superb quality of this asset just built in 2009, its unique location and extraordinary RevPAR generation, the highest in our portfolio, this property aligns perfectly with Prime’s strategy of investing in high quality, high RevPAR assets in gateway and resort markets."

Ashford Hospitality Prime invests in high RevPAR full-service and urban select-service hotels and resorts located in domestic and international gateway and resort markets.


Image: The hotel houses large, well-appointed guest rooms and suites with private patios / balconies. Photo: courtesy of PRNewswire / Bardessono Hotel and Spa.

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