28-30 Apr 2024
Radisson Blu Hotel,
Glasgow,
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08-08 May 2024
Hotel Melià ,
Milano ,
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10-12 May 2024
China Import & Export Fair Complex,
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13-16 May 2024
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14 May 2024
JPMorgan Chase Headquarters,
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23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais),
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30-30 May 2024
Four Seasons Hotel George V,
Paris,
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Olympus Real Estate to restore Murrieta Hot Springs to former glory following US$50m investment |
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By Megan Whitby 19 Oct 2022 |
The property is due to reopen in 2024, following an 18-month refurb project Credit: Murietta Hot Springs
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California’s historic Murrieta Hot Springs has been purchased for US$50m (€51m, £44.4m) by Olympus Real Estate Group, a real estate investment and development firm with plans to renovate and preserve the 46-acre property as a hot springs wellness resort and day spa. The property, located in southwest Riverside County, is fully developed with approximately 279,000sq ft of infrastructure including existing operating hot springs, 38 buildings, 12 guest lodges with over 200 rooms, two large auditoriums, commercial kitchens and restaurant facilities. “It’s an extraordinary property with a long and deep-rooted history in the community,” said Justin Esayian of The Hoffman Company, who was the sole listing broker on the transaction.
“To see it going back to its origins as a major destination for wellness and rejuvenation is a boon for the entire Temecula Valley. It has the potential to transform the wine region’s tourism market and generate significant tax revenue for the city.” Over the next 18 months, Olympus plans to renovate the property and reopen it as a wellness resort with expanded use of the natural hot springs, overnight guest lodging, a full suite of wellness classes and activities, a geothermal-focused spa and access for day guests.
The company also owns The Springs Resort in Pagosa Springs, Colorado, an award-winning wellness destination with strong community ties including local memberships, affordable housing for employees and generous contributions to non-profit organisations. “Murrieta Hot Springs is an irreplaceable property with tremendous history,” says David Dronet, founder and principal of Olympus.
“We’re very thankful to Calvary Chapel for its stewardship of the property over the past quarter-century and are looking forward to revitalising and re-opening it as a first-class hot spring resort and day spa.” He adds: “Years ago, the Murrieta Hot Springs Resort was one of the preeminent health resorts in the country. We’re honoured to work with the Murrieta community and our amazing health and wellness team to make the Murrieta Hot Springs Resort a world-class wellness destination once again.” Originally developed in 1902 as a health retreat, the Murrieta Hot Springs resort attracted locals, travellers and celebrities to its restorative waters before falling into disrepair in the 1980s.
It came back to life in 1995 when Calvary Chapel of Costa Mesa converted it into a Christian conference retreat centre and Bible College Campus. The church’s decision to sell the historical landmark was prompted by a shift in focus for the Church, exacerbated by the closure of its facilities during COVID-19. Mike Mugavero of Calvary Chapel commented: ‘when our church, Calvary Chapel of Costa Mesa, first stepped foot on the property in 1995, we began to invest in restoring and improving the property to what it is today.
“During the 25-plus years of ministry, many churches were blessed to be served for retreats for their congregations. The church’s Bible College grew in its outreach as a place for young people to come and receive a strong biblical education. “When the property went on the market 18 months ago, it generated outsized interest from mega-churches to medical centres to educational institutions worldwide. But local officials and the community have long waited for Murrieta Hot Springs to be rejuvenated and the city helped facilitate the approval process for a resort.”
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1 to 12 of 8704 news stories |
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25 Apr 2024
Kerzner International has signed deals to operate two new Siro recovery hotels in Mexico and Saudi Arabia, following the launch of the inaugural Siro property in Dubai this February. Designed to offer guests a holistic ... More
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24 Apr 2024
The US spa industry is continuing its upward trajectory, achieving an unprecedented milestone with a record-breaking revenue of US$21.3 billion in 2023, surpassing the previous high of US$20.1 billion in 2022. This data stems from ... More
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24 Apr 2024
Short-term incentives to exercise, such as using daily reminders, rewards or games, can lead to sustained increases in activity, according to new research. Researchers found that even a simple daily reminder encouraged people to move ... More
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24 Apr 2024
Spa and wellness veteran Shannon Malave has been named spa director at iconic US spa destination Mohonk Mountain House. Based in New York’s verdant Hudson Valley and founded in 1869, Mohonk is a historic Victorian ... More
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23 Apr 2024
Six Senses Kyoto opens its doors today, marking the eco-luxury hotel and spa operator’s entry into Japan and a new addition to its urban collection. Situated in the historic Higashiyama district, the 81-key hotel is ... More
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23 Apr 2024
The UAE’s first-ever Dior Spa has officially launched at The Lana, Dubai – the Dorchester Collection’s debut property in the Middle East. Bathed in natural daylight on the hotel’s 29th floor, Dior Spa The Lana ... More
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22 Apr 2024
The Sacred River Spa at Four Seasons Resort Bali at Sayan will reopen later this year with an all-new design plus enhanced treatments and experiences inspired by its river valley home. Nestled amid rich tropical ... More
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18 Apr 2024
The Global Wellness Institute (GWI) has released new data on the US’ wellness economy, valuing it at US$1.8 trillion. According to the organisation's recent report – called The Global Wellness Economy: United States – the ... More
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19 Apr 2024
UK sauna enthusiasts will converge at Galgorm Resort in Northern Ireland next week for the highly anticipated second annual UK Aufguss Championships. Hosted from 22-24, the event will see competitors from across the UK showcasing ... More
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17 Apr 2024
Remedy Place, a US-based social wellness club brand, is poised for steady expansion in the coming years, with plans to open two new clubs annually moving forward Remedy Place is the brainchild of Dr Jonathan ... More
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16 Apr 2024
Swiss longevity brand Clinique La Prairie (CLP) has inked a deal with Montara Hospitality Group to operate a resort at Tri Vananda – a purpose-built wellness community in Phuket, Thailand. Tri Vananda, envisioned as a ... More
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15 Apr 2024
Six Senses has announced the grand opening of its first-ever property and spa in the Caribbean, called Six Senses La Sagesse. With a picturesque beachfront setting and surrounded by verdant hills, Six Senses La Sagesse ... More
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