About The Ritz-Carlton Hotel, LLC:
- Maryland based, it operates 62 hotels in the Americas, Europe, Asia, the Middle East and Africa.
- Over 30 projects are under development at this time.
- Hotel openings are planned for Moscow, Tokyo and Ireland.
About Gencom:
- Founded in 1987 by Karim Alibhai
- Gencom Group is an investment and development firm.
- When it was formed, its activities primarily focused on acquisition, ownership, development and management of properties under the Hilton, Sheraton, Radisson and Wyndham brands in the U.S., Canada and Mexico.
- Gencom shifted its focus in 1997 into developing and acquiring luxury mixed-use hotels, including The Ritz-Carlton and Hyatt properties, with condo-hotel components.
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 RANCHO MIRAGE - It's official: The Lodge is putting on The Ritz. As reported Monday on thedesertsun.com, the property that started as The Ritz-Carlton in 1988 will return as The Ritz-Carlton, Rancho Mirage, as part of a $500 million transformation of the resort. It most recently operated as The Lodge at Rancho Mirage.
"It's an exciting day,'' said Herbert Spiegel, who is spearheading changes at the hotel.
Rancho Mirage Mayor Richard Kite said the city is thrilled to see the Ritz-Carlton return to the city, which counts tourism as an economic driving force and does its part to foster the valley's $1 billion tourism industry.
"Even though The Lodge was known in some circles as being a good hotel, The Ritz is one level above that," Kite said. "It brings a name that's known around the world. Its name, alone, guarantees reservations from people on the East Coast."
The Lodge has been closed since August for the renovation. By the time it is complete, Kite said The Ritz-Carlton, Rancho Mirage it will be one of the finest hotels in the state.
Spiegel, vice president of Miami-based Gencom Group, which owns the property, said the hotel will reopen in December under the long-term management contract held by The Ritz-Carlton.
"It's going to be a resort of a magnitude and quality that does not exist in the valley,'' he said.
Of the $500 million investment, the renovation alone exceeds $330 million, Spiegel said.
"That's a lot of money for that size of a resort."
Karim Alibhai, principal of Gencom, said the company is committed to making The Ritz-Carlton the "preeminent resort and residential property in southern California."
For Rancho Mirage, it will mean an excess of $2 million a year in bed tax - nearly double what it collected before, said Mayor Pro Tem Dana Hobart. "Rooms will be added and The Ritz-Carlton will attract more travelers than virtually any other hotel chain."
"They are sparing no expense in creating what will be seen as the jewel of the desert,'' Hobart said.
The development is tucked in a cove of the Santa Rosa Mountains on a 650-foot plateau at the tip of Frank Sinatra Drive.
The Ritz-Carlton, Rancho Mirage will feature a completely revamped 244-room resort, with two "signature pools,'' including an Olympic-sized pool framed by cabanas and an infinity pool, a $30 million spa and a 154-unit luxury residential community.
Sales of The Residences at The Ritz-Carlton, Rancho Mirage, will start later this month. They will be ready for occupancy beginning May 2008.
The Residences offer three ownership opportunities: Spa Suites, a collection of 18 condominiums attached to the spa; Residential Suites, 86 one- to three-bedroom hotel suites; and The Residences, 68 two- to four-bedroom villas with private plunge pools.
No costs have yet been shared. |
