The Landing in South Lake Tahoe sold to Maryland luxury hospitality company
In March, a Maryland-based luxury hospitality company purchased The Landing Resort & Spa for $42 million.
“We are excited to announce our acquisition of The Landing, an iconic, luxury lakefront resort, in one of the premier destinations in the western United States,” said Mark W. Brugger, president and CEO of DiamondRock Hospitality Company, in a press release.
The transaction closed on March 1.
DiamondRock is a real estate investment trust based in Bethesda, Maryland with a portfolio of 30 hotels around the country.
The Landing was owned by Jim and Nancy Demetriades, who transformed the former Royal Valhalla Lodge into a 5-star boutique hotel. The property celebrated a grand opening at the beginning of 2014 with celebrity guests Heidi Klum and Grammy award-winner Kenneth “Babyface” Edmonds.
But there could be some additional changes ahead for the resort under the new ownership.
DiamondRock said it “expects to increase the resort’s key count,” according to the press release, but no timeframe was given for the expansion.
The Landing currently has 77 rooms, each with stone fireplaces and private balconies, as well as a spa and fitness center, rooftop deck, outdoor pool and hot tub. The on-site restaurant, Jimmy’s, serves Californian-Greek cuisine.
DiamondRock has hired Two Roads Hospitality to replace the current owner-operator.
The Landing is located at 4104 Lakeshore Blvd., in South Lake Tahoe.