KHP III originally acquired the independently operated Amara Resort & Spa in June 2013 and installed Kimpton Hotels & Restaurants to manage the property. The property is located in one of the most desirable locations in Sedona with commanding views of the red rocks. Property performance was dramatically improved following a minor upgrade to the guestrooms, lobby, restaurant and outdoor spaces in 2014. During KHP III’s hold period the property’s RevPAR penetration index increased 47 percentage points and NOI increased 7.8x.
|Acquisition Date:||June 2013|
|Disposition Date:||December 2018|