Napa’s Meritage and Vista Collina resorts for sale; price could top $500 million

https://napavalleyregister.com/news/local/napa-s-meritage-and-vista-collina-resorts-for-sale-price-could-top-500-million/article_8dcf5388-2f46-5bd6-9ed4-1807ebb6320d.html

Between this Wednesday and Friday, a different kind of visitor is expected at Napa’s Meritage and Vista Collina resorts. Instead of vacationers, potential buyers were invited to tour the properties.

The resorts, totaling 467 rooms over 36 acres, are for sale. An asking price was not provided.

However, compared to other such hotel sales, the dual property could be sold for as much as $500 million, according to one industry expert.

Both of the south Napa resorts are owned by Pacific Hospitality Group of Irvine, Calif. The adjacent Vino Bello timeshare property was not included on the sales listing.

According to a property summary from CBRE, the sale includes the 322-room Meritage Resort & Spa, the 145-room Vista Collina Resort, a “fully operational” 9-acre vineyard,” a 5.39-acre fully entitled 253-room AC and  Residence Inn development site and three commercial condominiums providing “back of house” space.

In total, the space offers 80,000 square feet of indoor/outdoor meeting and event space including the “two largest” ballrooms in wine county, stated CBRE. Together, it is one of Napa County’s largest hotel/resort complexes.

The listing was first reported in Paul Franson’s NapaLife newsletter.

Built 15 years ago, the Meritage property presents “tremendous potential upside via renovation and rebranding,” said the sales document.

The Meritage Resort includes five food and beverage restaurants or cafes, a 22,000 square-foot wine cave, spa, chapel and bowling alley.

Vista Collina Resort, which opened in 2018, includes four food and beverage operations, a retail center and expansive “lawn.”

Both are located on Bordeaux Way in south Napa.

A representative from Pacific Hospitality Group was unable to provide additional information about the sale.

“We aren’t ready to comment,” said Garrett Busch, vice president of capital markets at Pacific Hospitality Group.

A representative from CBRE could not be immediately reached.

The prices that are being paid for California hotels today are setting new records, said Alan X. Reay, president of Atlas Hospitality Group.

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