Case Study: Kachina Lodge Resort & Meeting Center, Taos, NM
Kachina Lodge Resort Hotel & Meeting Center located at:
413 Paseo Del Pueblo Norte, Taos, NM 87571
ABOUT THE PROPERTY
Kachina Lodge, an iconic Taos landmark, is a 118 guest-room resort-style destination hotel. Originally built from 1960 to 1973 on 7.28 acres, the property provides a combination of Southwest charm and full-service contemporary hotel accommodations. Hotel amenities include an outdoor seasonal pool, indoor hot tub, 4,050 sq. M of conference/meeting space, restaurant, coffee shop, and gallery area.
Brian Resendez Co-Listed with SVN Team Southwest (Tim House) and Dual-Agent representation of Buyer and Seller.
Seller: Seller sought Chapter 11 protection in May 2018. They cited lack of snow, tough ski conditions, and dwindling travelers last season as caused for the need to restructure. The Seller was elderly and did not have the energy /ability to continue the maintenance of the hotel or its operations.
Buyer: M & M Partnership, a Birmingham, Alabama-based hotelier, plans to renovate the property and grow revenue. “The Kachina Lodge is a part of Taos history. It’s such a great property and in such a great town,” Gill said. The buyer had previously looked at this hotel and wanted to make an offer for some time, but had trouble convincing investors to commit. He finally convinced them.
Benefit to the client: The p
Working with the city and the courts to get through the deal was very challenging. Even in the final days of the deal, the Buyer and Seller were trying to negotiate the sale with lowered fees and lowered final price, but the court order did not allow for any changes.
The transaction successfully closed. January 2, 2019. Tim House, as local SVN Representative and person connected through the hotel for sale and the court, brought me in as the hotel expert. I helped evaluate the property, capture a good listing price, and develop marketing. We then brought multiple buyers to the table from our own database and through
SOLD PRICE: $3,200,000