Real EstateAcquisitionsIMH Financial Corporation Acquires Sedona Hotels

IMH Financial Corporation Acquires Sedona Hotels

SCOTTSDALE, Ariz.— IMH Financial Corporation (IMH), through various subsidiaries, entered into an agreement to acquire the hotel properties L’Auberge de Sedona and Orchards Inn, both located in Sedona, Ariz. T

Will Meris, president of IMH, had this to say: “Our relationship with the current owners of the Sedona properties has spanned several years, during which time we have provided the capital resources to renovate and enhance the hotels. We believe L’Auberge represents the pinnacle of ‘premier luxury hospitality’ and we look forward to working with the existing staff to continually exceed the expectations of hotel guests. During the ownership transition period, we anticipate working closely with the current owners and management, who will remain integrally involved with hotel operations. Additionally, IMH has retained the services of Ernst & Young’s Hospitality Specialty Practice, who will assist with our goal of maintaining and improving the national and international reach of these luxury assets.”

The four-diamond L’Auberge de Sedona hotel consists of 87 total units, including 32 newly constructed cottages and 55 recently renovated guestrooms and cottages, spread out among eleven landscaped acres. The resort also features on-site dining options, spa facilities, and indoor/outdoor function space.

Orchards Inn is a 42-room, upscale hotel located on approximately one acre adjacent to L’Auberge de Sedona. Built in 1975, Orchards Inn features recently renovated guestrooms and the Taos Cantina restaurant, which contains 79 indoor seats and three outdoor patios with 65 seats.

Al Spector, current principal owner of the hotels, lauds the support of IMH, “Through the recent recession, our relationship with IMH allowed us to complete wonderful improvements to the properties and has contributed greatly to our unrelenting objective of making L’Auberge and the Orchards the world-class destinations they are today. L’Auberge’s many awards are the legacy upon which IMH can continue to build, as they work to advance L’Auberge to a larger world stage.”