The Busch family and Pacific Hospitality Group (PHG) have led the recapitalization of The Meritage Resort and Spa in Napa, said a news release.
“The family’s commitment to the word-class destination includes a $25 million investment in enhanced upgrades including full guestroom renovations of The Meritage Resort (2023), meetings and events space renovations (winter 2022) and the opening of a new pop-up French bistro (summer 2022),” said the release.
“By increasing their ownership, the Busch family enabled previous investors to exit the property at a significant gain – but to more importantly reinvigorate long time partners and bring in new equity investors to become part of this iconic flagship resort.”
“We are proud to be a member of this incredible community going on almost 20 years,” said Tim Busch, chief executive officer at the Pacific Hospitality Group.
“It has been a rewarding experience to transform the resort from what was once a small Napa Valley hotel into a world class destination. I am humbled by what we have built together with the support of the local community, and I am excited for the future.”
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“We are ecstatic to have the opportunity to increase our commitment to the Meritage, and the Napa community. Napa was my home for nearly 10 years and is very near and dear to me personally. It has been a long journey to build this world-class resort, and we’re confident we can raise the bar even higher, starting with our $25 million investment,” said Garrett Busch, President, Pacific Hospitality Group.
“This is a vote of confidence in Napa and the entire wine country. We are grateful to our original investors who are exiting at this time, as well as our fellow and new investors who have partnered with PHG to take full ownership of the property.”
Recently appointed hospitality professionals at the Meritage Resort & Spa include Managing Director Joe Leinacker; Resort Manager Boris Banda; Director of Marketing Monica Smiley; Regional Director of Revenue Management Sarah Kalin Churchill and Director of Culinary Experiences Vincent Lesage.
“We are excited to unveil a new level of exquisite offerings and accommodations that will elevate the overall resort experience,” said Leinacker.
“Meritage Resort and Spa is poised to achieve over $90 million in topline revenue in 2022,” added Leinacker. “
The Meritage Resort and Spa was purchased in 2004 and opened in 2006.
Napa’s Meritage and Vista Collina resorts are for sale, and the price could top $500 million.
The resort features 322 guestrooms, in addition to 145 rooms at Vista Collina at The Meritage.
Pacific Hospitality Group, which is wholly owned by the Busch family, has been managing the resort since 2004 and will continue to be retained as the management company, said the release.
In July 2021 the resort, and sister property Vista Collina, was listed for sale, but no purchase transaction has been announced.
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