Historic Hotel Sale Shows Good News for Napa Tourism and Hospitality
Four Seasons Napa Valley has received offers over $170m
Local News in California and beyond has been buzzing with excitement over something happening here in Napa Valley.
The development company in charge of the new Four Seasons Napa Valley resort is closing in on a sale that would set a near-record price for a hotel sale, according to the Wall Street Journal.
The owners of the resort, Alcion Ventures, developed the 85-room resort in Calistoga over the past 10 years. The company has secured several competing offers for the property, some of more than $170 million, according to the hotel brokers. That means the property is valued at over $2 million per key.
Only two hotels in the country have ever sold for more than that amount – Hawaii’s Four Seasons in Hualalai and the Montage Hotel Beverly Hills.
The competing interests in Napa’s Four Seasons hotel shows the luxury resort market is alive and well, despite the current state of the wider hospitality sector.
2020 marked the worst year on record for the hotel industry, with revenues per available room falling almost 50% compared to the previous year.
The Napa Valley’s hospitality industry has seemingly begun to improve throughout the Coronavirus pandemic, with a lot of reported visitors in the summer months. Though the area is not an exception to the challenges the hospitality industry is facing, the interest in the area is increasing and the experts at Hospitality Net expect Napa Valley to remain a top destination for Californians and those visiting the state in 2021.
The Napa Valley Four Seasons hotel in Calistoga is set to open in the second quarter of this year. The resort is located at the base of Mount Saint Helena and will be the first hotel in Napa Valley to be set within a working winery.
You can stay in the resort and enjoy world-class wine from the organically farmed vineyard on the property. For those hoping to get away and spend some time in the Napa Valley, there are many things for you to do in Calistoga and beyond.
In true wine country fashion, there are over 100 wineries in Calistoga alone. There is a winery to fit any mood – from those with gothic-inspired architecture to more modern feeling ones, there is a winery for everyone. Whether you’re looking for a winery tour or a quant winery to do wine tastings, you can find it in Calistoga.
The town of Calistoga was originally founded as a hot springs destination, so the area has many natural hot springs and spas for you to get some rest and relaxation. You can even see one of the three Old Faithful geysers in Calistoga.
The Napa Valley is world-renowned for being home to a handful of Michelin-starred restaurants.
Nearby Sonoma offers more wineries and rich colonial history, St. Helena is a hub for arts and entertainment, Vallejo offers waterfront views and attractions, and there are many more adventures to discover. The Napa Valley is a great destination for people with a wide range of interests, and a great place to live.
