Miramonte Resort and Spa in Indian Wells has a new owner

The Miramonte Resort and Spa in Indian Wells has a new owner.

Lowe, a national real estate developer, investor and manager, announced Monday it has acquired the 215-room resort located on Highway 111.

The property has been closed since March due to COVID, but Lowe is immediately undertaking a reopening plan for the property, anticipating to welcome guests in early 2021.

"The Miramonte Resort and Spa is a stunning property that offers a sophisticated, yet quintessential California casual resort experience for visitors to the greater Palm Springs area," said Rob Lowe, co-CEO of Lowe. "Lowe has several decades of experience in Coachella Valley, including as operator of Miramonte Resort & Spa. We are thrilled to be involved with this property again, and our history with the asset uniquely positions Lowe to successfully guide Miramonte’s reopening." Lowe’s management subsidiary, CoralTree Hospitality, will manage the resort.

Miramonte originally opened in 1963 as the Erawan Gardens hotel, the property underwent a $28 million comprehensive renovation in the late 1990s, reopening in 1998 as the Miramonte Resort & Spa.

Miramonte was most recently renovated in 2017 with upgrades to the resort’s dining options including the lobby bar and lounge.

"Lowe’s acquisition of Miramonte demonstrates our confidence in the strength of the Coachella Valley hospitality market which has continued to be a popular destination throughout the pandemic for visitors seeking a relaxing getaway or a beautiful remote working environment," said Lowe Executive Vice President Matt Walker.