TUCSON, ARIZ. — HSL Properties has acquired the 432-room Hilton El Conquistador Golf & Tennis Resort and the El Conquistador Country Club for a reported $15 million. The asset is situated on two separate parcels that total 383 acres.
The resort was originally constructed in 1982 as a Sheraton hotel. The hotel was Tucson’s first major resort to include more than 250 rooms. It was repositioned as a Hilton hotel in 2003.
The hotel features more than 100,000 square feet of indoor and outdoor event space, along with Tucson’s largest golf and tennis facility. The property contains 45 holes of golf and 31 hard-surface tennis courts.
The transaction included 18 acres of developable land on Oracle Road. HSL plans to invest about $16 million to rehabilitate the hotel. This work should take about 12 to 18 months to complete. The majority of the rehabilitation will occur over the slower summer months, HSL says.
The firm has also begun the process of splitting the resort’s country club and 45-hole golf course. The town of Oro Valley plans to purchase these assets in a sale that is expected to close March 1. The town will then turn the 31,475-square-foot club building into a community center. It will contract out the golf course operations.
The seller, MetLife, was represented by CBRE Hotels’ Jerry Hawkins, Douglas Henkel, Lewis C. Miller, Andy Wimsatt and Jeff Woolson.