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Case Studies


Arizona Biltmore

Phoenix, Arizona

The Opportunity

Classic Hotels & Resorts purchases 70 year old Frank Lloyd Wright-inspired
730-room resort in 1992 and undertakes a $60 million renovation,
including the addition of 122 units and 80 Villas

Classic Hotels & Resorts re-launches Arizona Biltmore in 1994

Improvements garner national media attention:

  • New York Times, Architectural Digest and Travel & Leisure Magazine
  • Urban Land Institute Heritage Award for Excellence

Classic Hotels & Resorts sells Arizona Biltmore for $350 million in 2000

During the period in which Classic Hotels & Resorts owned and operated the hotel, revenue increased 77% and EBITDA improved from a negative $4 million annually to $28 million annually

The Investment

Acquisition Closed: June 1992
Acquisition Price: $62 million ($85,000/key)
Re-development Cost: $60 million ($82,000/key)
Sale Closed: March 2000
Sale Price: $350 million


La Playa Carmel

Carmel by the Sea, California

The Opportunity

Classic Hotels & Resorts purchases the 106 year old 75-room La Playa Hotel in late 2011 and undertakes a $3.5 million restoration project to refurbish all guest rooms, suites and public space.

Closed during the extensive renovation, the hotel re-opens as La Playa Carmel in July of 2012.

The restoration garners national media attention:

  • “The new owners took a straightforward approach that puts tradition ahead of bling; they didn’t try to fix what wasn’t broken.” – San Francisco Chronicle
  • “Do stay at the 75-room La Playa Carmel to see how a 2012 renovation has changed a century-old community favorite.” – The Los Angeles Times
  • Within the first 12 months of operation the hotel achieves a $3 million turnaround in profitability, and garners the highest room revenues in the property’s history.

The Investment

Acquisition Closed: November 2011
Acquisition Price: $18 million ($240,000/key)
Restoration Cost: $3.5 million ($47,000/key)

Development Standards

Classic Hotels & Resorts is a privately held real estate investment firm focused on hospitality property investment and management.

Case Studies

The purchase and $60 million renovation of the 70 year old, Frank Lloyd Wright-inspired, 730-room Arizona Biltmore.

Premier Properties

From historical landmarks to seaside retreats, view our collection of properties, past and present.

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…quality, flexibility, customer-centric solutions and independent thinking…

Dave Gabri, President, Associated Luxury Hotels International

I admire Classic’s exceptional ability to anticipate and capitalize on shifting market conditions.

Tom Littleton, President, LMG Data Mining

Write a book for other hotels to follow!!

Maria Webster, Meeting Planner, InterDent, Inc