The Boulders Resort and Spa is one of the most luxurious resorts in Arizona. It is a popular destination for tourists who want to experience the beauty of the Sonoran Desert while enjoying world-class amenities and services.
But who owns the Boulders Resort and Spa? This is a question that many people ask, especially those who are planning to visit the resort. In this article, we will explore the ownership of this famous resort.
History of the Boulders Resort and Spa
The history of the Boulders Resort and Spa dates back to 1983 when Charles Keating, Jr., a real estate developer, purchased 1,300 acres of land in Carefree, Arizona. He wanted to build a luxury resort that would showcase the beauty of the desert landscape.
Keating hired architect Edward L. Varney to design the resort, which opened in 1985 as The Boulders, A Waldorf Astoria Hotel & Resort. The resort quickly became a popular destination for celebrities and high-end travelers from around the world.
In 2001, Hilton Hotels purchased The Boulders from Keating’s company for $51 million. Since then, Hilton has invested millions of dollars in renovating and updating the resort to maintain its status as one of Arizona’s top luxury hotels.
Current Ownership
In 2017, Hilton sold The Boulders Resort and Spa to HNA Tourism Group Co., Ltd., a Chinese tourism company based in Haikou City. The sale was part of HNA’s strategy to expand its global hospitality portfolio.
However, due to financial troubles faced by HNA in recent years, The Boulders was put up for sale again in 2020. According to reports, there were several interested buyers including Marriott International Inc., Hyatt Hotels Corp., and Blackstone Group Inc.
In September 2020, it was announced that the Boulders Resort and Spa had been acquired by Compass Group Equity Partners LLC, a private equity firm based in California. The terms of the deal were not disclosed, but it was reported that Compass Group plans to invest heavily in the resort to enhance its facilities and services.
Conclusion
In summary, The Boulders Resort and Spa has had a colorful history of ownership changes since its inception in 1985. Currently, the resort is owned by Compass Group Equity Partners LLC, a private equity firm based in California.
Despite the changes in ownership over the years, The Boulders has remained one of Arizona’s top luxury resorts. With its stunning desert scenery, world-class amenities and services, and exceptional hospitality, it’s no wonder why this resort is a favorite among travelers from around the world.