Latest news with #CastlePeakHoldings
Yahoo
24-07-2025
- Business
- Yahoo
Thomas Financial Group secures loan to restore hotels in California, US
Thomas Financial Group has secured a $19.97m USDA Business & Industry loan, which will be redirected towards the full renovation of Mendocino Hotel & Garden Suites and Hill House Inn, two properties in California, US. This funding also aims to refinance the properties and significantly boost local employment, creating more than 50 jobs. The comprehensive plan for both assets will not only refurbish all guest rooms but also relaunch a key food and beverage venue and the largest indoor event space on California's North Coast. Castle Peak Holdings, the new owner of these properties, is set to launch a restoration to improve the experiences of the guests. The renovation will see upgrades across both sites, restoration of a historic lobby bar and a three-meal restaurant at Mendocino Hotel. Additionally, the North Coast's largest indoor wedding venue will be reopened, and improvements will be made to room layouts, Americans with Disabilities Act (ADA) compliance, and coastal-facing suites. The projects will also focus on activating public gathering spaces for both locals and tourists. The Mendocino Hotel & Garden Suites stands as the sole full-service hotel in the downtown district. Set to be transformed into a hilltop retreat, Hill House Inn will feature meeting and event spaces, offering ocean views and convenient access to downtown Mendocino. Thomas Financial Group government guaranteed lending senior vice-president Zach Chandler said: 'We delivered a complex, long-term loan structure to support two of Northern California's most irreplaceable hospitality assets, and did it with the stability of USDA financing.' The loan has an 80% USDA guarantee and a 30-year term without balloon payments. The properties signify a substantial part of Mendocino's total hotel room inventory. "Thomas Financial Group secures loan to restore hotels in California, US" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Travel Daily News
13-06-2025
- Business
- Travel Daily News
Castle Peak Holdings raises $315m to expand Trailborn brand in the U.S.
Castle Peak Holdings closes $315m. fund to expand Trailborn hospitality brand, focusing on upscale experiences in iconic U.S. outdoor destinations. NEW YORK – Castle Peak Holdings, the investment firm behind the Trailborn hospitality brands, announced the successful close of its second vehicle with total committed capital of $315 million raised over a 4 month period. The firm's recent acquisition of Snow King Resort in Jackson Hole, Wyoming, marks the first investment of this new vehicle and expands Castle Peak's portfolio of hotels and resorts in iconic outdoor destinations across the United States. Launched in 2021 by two Goldman Sachs alums, Castle Peak designed a unique playbook to create and scale niche real estate platforms. This playbook, which is premised on fundamental supply demand imbalances, deep sector specialization, and a 'one at a time' approach, combines real estate value creation with platform value creation to deliver outsized investment outcomes. Trailborn is the first embodiment of Castle Peak's playbook and the singular focus of the firm today. Trailborn brings a new level of hospitality to extraordinary outdoor destinations where it doesn't currently exist with lively, elevated hotels designed to help travelers rediscover the beauty of America. Each property offers a guided experience, led by passionate local experts who curate recommendations, excursions, and essential amenities for an unforgettable stay. 'Closing this vehicle is a testament to the durability of our model and the belief that exceptional outcomes come from doing the hard work ourselves – strategically, creatively, and operationally,' said Ben Weinberg, co-founder and co-CEO of Castle Peak Holdings. 'We're a team of deep sector specialists, and we believe our relentless, singular focus positions us for success in this type of environment.' 'Where and how people travel is evolving, but what drives them to do so isn't – the desire to create lifelong memories with those they love. We're tapping into this by building brands that unlock extraordinary adventures in iconic outdoor destinations,' said Mike Weiss, co-founder and co-CEO of Castle Peak Holdings. 'We're energized by the level of excitement Trailborn has continued to receive from both investors and guests alike. This new infusion of capital will allow us to continue to scale Trailborn's approach to experiencing the great outdoors and deliver customers what they've been searching for.' Since launching, Trailborn has seen rapid momentum, earning a loyal following from travelers seeking meaningful connection in nature without sacrificing quality or experience. In 2024, Trailborn entered into a long-term agreement with Marriott to add Trailborn's portfolio to Marriott's system. Additionally, in just over a year, Trailborn has opened five distinct properties, including Trailborn Rocky Mountains & Trailborn Rocky Mountains Outpost in Estes Park, Colorado; Trailborn Highlands in North Carolina's Blue Ridge Mountains; Trailborn Surf & Sound in Wrightsville Beach, North Carolina; and most recently, Trailborn Grand Canyon in Williams, Arizona. Trailborn has additional properties debuting in Mendocino, California, and Jackson Hole, Wyoming, within the next year.
