MARANA, Ariz.
Cottonwood Properties and HSL Properties announced the formation of a new partnership that has completed the purchase of The Ritz-Carlton, Dove Mountain resort. The hotel will continue to be managed under a long-term management contract by The Ritz-Carlton Hotel Company, L.L.C.
The Ritz-Carlton, Dove Mountain offers more than 20 indoor meeting rooms and three outdoor lawn locations, including a 9,000-square-foot ballroom and a number of 500-square-foot breakout rooms.
The hotel is one of only ten Forbes 5-Star Ritz-Carlton Hotels, and is rated the No. 1 hotel in Arizona. The purchase closed on June 28, 2016. Financing was provided by National Bank of Arizona.
“We are delighted to have a long-term relationship with Cottonwood and HSL for the spectacular Dove Mountain property,” said Herve Humler, president, The Ritz-Carlton Hotel Company, L.L.C.
Cottonwood Properties developed The Ritz-Carlton, Dove Mountain hotel and the 6,200-acre Dove Mountain community. Cottonwood is a developer of residential communities, resorts and commercial property throughout the Tucson region since 1976, including The Westin La Paloma Resort & Spa.
HSL Properties, a major apartment owner, now has interests in seven local hotels, including two other resorts, the Hilton El Conquistador and The Westin La Paloma, totaling over 2,100 rooms and suites.
