The Eldorado Hotel & Spa in Santa Fe has been purchased by a group of New Mexican families. Courtesy/HH&R

BUSINESS News:

Heritage Hotels and Resorts, Inc. has announced the purchase of the legendary Eldorado Hotel & Spa in Santa Fe by a group of New Mexican families led by native New Mexicans, Jim Long and Randy Talbot. 

The Eldorado Hotel & Spa will join the other three Heritage Hotels & Resorts in Santa Fe including Hotel St. Francis, Hotel Chimayo de Santa Fe and the Lodge at Santa Fe, to create a very strong lodging presence in Santa Fe. This will be the first time in its history, that New Mexican families will own the property.

“The Eldorado Hotel & Spa is one of the premier properties in Santa Fe and New Mexico. We are excited to add this property to our collection of culturally designed New Mexico hotels,” said Jim Long, CEO, Heritage Hotels & Resorts, Inc. “All of our Heritage Hotels & Resorts offer guests an authentic New Mexico cultural experience and tell a unique story about our rich heritage and history. The Eldorado Hotel will remain the premier Santa Fe property and enhance our presence in Santa Fe.”

Co-investor and native New Mexican, Randy Talbot adds, “Santa Fe is a world class traveler destination. We feel very fortunate for the opportunity, alongside the high quality and tenured Eldorado staff, to provide an experience at the very top of expectations during our visitors stay in this beautiful city and state.”

Heritage Hotels & Resorts, Inc. plan to keep the history and character of the Eldorado Hotel & Spa while expanding amenities and adding modern conveniences and improvements. The Eldorado employs 200 people. The hotel was built in 1986 and was designed by Santa Fe architect, Wayne Lloyd.

Financing for the acquisition was provided by Washington Federal and First National Bank of Santa Fe. Stu Sherman brokered the transaction. Heritage Hotels & Resorts, Inc. will serve as the hotel management company.