The Busch Family and Pacific Hospitality Group Lead the Buyout of The Meritage Resort & Spa, Commit to $25 Million Investment in Upgraded Room, Meeting Space and Restaurant
NAPA, Calif. /PRNewswire/ — The Busch Family and Pacific Hospitality Group (PHG) have led the recapitalization of The Meritage Resort and Spa, the premier AAA Four Diamond resort located at the gateway of Napa Valley. By increasing their ownership, the Busch Family enabled previous investors to exit the property at a significant gain – but to more importantly reinvigorate long time partners and bring in new equity investors to become part of this iconic flagship resort. The family’s commitment to the word-class destination includes a $25 million investment in enhanced upgrades including full guestroom renovations of The Meritage Resort (2023), meetings and events space renovations (winter 2022) and the opening of a new pop-up French bistro (summer 2022).
The Meritage Resort and Spa was purchased in 2004 and opened in 2006 and has since served as a luxury destination and community gathering place for residents and visitors. Providing beautiful wine country accommodations paired with bespoke amenities, the resort features 322 well-appointed guestrooms, in addition to an upgraded offering of 145 upscale rooms at Vista Collina at The Meritage. Pacific Hospitality Group, which is wholly owned by the Busch family, has been managing the resort since 2004 and will continue to be retained as the management company.
“We are proud to be a member of this incredible community going on almost 20 years,” said Tim Busch, chief executive officer at the Pacific Hospitality Group. “It has been a rewarding experience to transform the resort from what was once a small Napa Valley hotel into a world class destination. I am humbled by what we have built together with the support of the local community, and I am excited for the future.”
“We are ecstatic to have the opportunity to increase our commitment to the Meritage, and the Napa community. Napa was my home for nearly 10 years and is very near and dear to me personally. It has been a long journey to build this world-class resort, and we’re confident we can raise the bar even higher, starting with our $25 million investment,” said Garrett Busch, President, Pacific Hospitality Group. “This is a vote of confidence in Napa and the entire wine country. We are grateful to our original investors who are exiting at this time, as well as our fellow and new investors who have partnered with PHG to take full ownership of the property.”
“This investment is a culmination of PHG’s investment philosophy and strategy. We believe in building a business, holding world-class assets for the very long term, and being impactful in our communities. PHG has an incredible investor network of high-net-worth individuals and families who share our philosophy. We are always looking to expand our network of like-minded investors who share our passion for hospitality,” added Garrett Busch.
Meritage Resort & Spa’s robust leadership team will be leading the resort’s rollout of upgrades and enhancements. PHG has been building a world-class team comprised of recently appointed hospitality professionals, including Managing Director Joe Leinacker; Resort Manager Boris Banda; Director of Marketing Monica Smiley; Regional Director of Revenue Management Sarah Kalin Churchill and Director of Culinary Experiences Vincent Lesage.
“I am proud to lead an incredible team of seasoned experts who share my resounding investment and passion for providing visitors and the community the highest level of service and unforgettable experiences,” said Leinacker. “We are excited to unveil a new level of exquisite offerings and accommodations that will elevate the overall resort experience and further establish the property as the premier hospitality destination in the world-renowned Napa Valley.”
“Meritage Resort and Spa is poised to achieve over $90 million in topline revenue in 2022, a flagship year for the resort and a testament to the appeal of Napa Valley and the resurgence of companies looking to meet again,” added Leinacker. “Napa Valley provides a premier experience for both meetings and vacationers and we are excited to welcome them to our burgeoning resort.”
SOURCE The Meritage Resort and Spa
Rod Washington: Rod is a blogger, writer, filmmaker, photographer, daydreamer who likes to cook. Rod produces and directs the web series, CUPIC: Diary of an Investigator. He also produces news and documentary video projects. Check out his podcast StoriesThisMoment at https://m3e.d71.myftpupload.com/stm-tncn-podcasts/
