Tucson developers buy Ritz-Carlton, Dove Mountain

AZRE

David Mehl of Cottonwood Properties and Humberto S. Lopez of HSL Properties announced the formation of a new partnership that has completed the purchase of The Ritz-Carlton, Dove Mountain resort. The hotel will continue to be managed under a long-term management contract by The Ritz-Carlton Hotel Company, L.L.C. The hotel is one of only ten Forbes 5-Star Ritz-Carlton Hotels, and is rated the No. 1 hotel in Arizona.

Both Cottonwood and HSL are Tucson-based companies with long standing commitments to the Metro Tucson region. The hotel was sold by affiliates of both Cottonwood Properties and of Marriott International. The purchase closed on June 28, 2016. Financing was provided by National Bank of Arizona.

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June 30, 2016

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Tucson developers buy Ritz-Carlton, Dove Mountain

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