The Westin La Paloma Resort & Spa in Tucson, Arizona and the Westin Hilton Head Island Resort & Spa on Hilton Head Island, South Carolina won court approval on Tuesday to emerge from bankruptcy.
Southwest Value Partners, San Diego, bought the two hotels, which is investing US$60 million in the two properties. Starwood Hotels will continue to manage both resorts under a long-term, 20-year management agreement. The improvements planned for both resorts include renovations of every guest room, all meeting spaces, main lobby areas, outdoor venues and pool areas.
“We viewed this as an ideal reorganization situation involving incredibly high quality assets that required strong ownership and equity to provide Westin with the tools necessary to position each hotel properly, allow them to emerge from bankruptcy, and maximize their operating performance,” said Mark Schlossberg, a partner in Southwest Value Partners.
