Santa Fe's Eldorado Hotel & Spa to be sold to Heritage Hotels and Resorts

The Eldorado Hotel & Spa, Santa Fe’s largest hotel, which was originally developed by the late Manhattan real estate scion Bill Zeckendorf Jr., is under contract to be sold to Heritage Hotels and Resorts, a New Mexico-based company that prides itself on owning properties that promote local culture and history.

Based in Albuquerque, Heritage Hotels and Resorts opened Hotel Albuquerque, originally called Sheraton Uptown, in 2005. It has since taken over The Lodge at Santa Fe, formerly the Radisson, as well as Hotel Chimayó and Hotel St. Francis, both near the Santa Fe Plaza.

The Eldorado is currently owned by a partnership led by the Guardian Life Insurance Co. At one time, Zeckendorf had 10 percent ownership, along with his former partners, the Horwitch family, but the equity was sold to Guardian several years ago, according to The New Mexican archives.

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