Two Bunch Palms Resort & Spa, Desert Hot Springs, California, has been acquired by an investment team of Hollywood executives Steve Markoff, Donald Kushner, Elie Samaha and real estate investor Gidi Cohen.
The amount of the purchase was not disclosed. The new owners will immediately begin a multi-million dollar renovation on the property, which dates from the 1920s when it was used as a hideout for famous gangster Al Capone.
“The new owners are also planning to market a line of spa products and beverages which will be made from the Spa’s highly prized natural waters. The resort is a jewel, the word-of-mouth top choice for entertainers, executives and entrepreneurs from all over the world,” said Cohen, president of Los Angeles-based Cohen & Associates who will manage the asset on behalf of the new ownership. “We will embark on a renovation, faithful to the traditions of this peerless gem, but will spare no expense to re-create a destination at the very pinnacle of the lodging and resort industry.”
The new owners also are in discussions with several proprietors of chef-driven restaurants in an effort to reinvent The Casino Dining Room, the resort’s on-site fine dining restaurant.
“The new menu will feature sustainable and local products and will offer organic and decadent dining options,” said Cohen.
