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SANTA FE, N. MEX. – A joint venture between PCCP, LLC and 1754 Properties LLC has acquired the 158-room La Posada de Santa Fe Resort and Spa for an undisclosed sum. The resort is located at 330 E. Palace Ave. in downtown Santa Fe near the new Santa Fe Community Convention Center.
The JV plans to carry out a $5-million improvement project at the resort. It will then be rebranded under Starwood Hotels & Resorts’ The Luxury Collection brand. The hotel originally opened in 1940. It has undergone more than more than $7.6 million in renovations since 2008.
The seller, Ektornet, had purchased the resort in 2007 from a prior partnership that involved 1754 Properties.