Paradise Valley’s Hermosa Inn sold to Allred Capital

The Hermosa Inn located in Paradise Valley. (Submitted photo)

The Hermosa Inn located in Paradise Valley. (Submitted photo)

On Wednesday, May 6, the luxury boutique resort, The Hermosa Inn, and its award-winning restaurant, LON’s at the Hermosa, was sold to Allred Capital LLLP.

According to the release, the partnership led by Ronald Allred and his son Mike Allred, has been developing land, real estate and hospitality related ventures since the 1970s. The partnership also owns Rancho Manana Golf Club, in Cave Creek, is the lead investor and operator of Tubac Golf Resort and Spa, in Tubac, and has now added The Hermosa Inn to its historically-oriented, hospitality portfolio.

“We look forward to continuing the legacy Lon Megargee began here in the 1930’s and which the Unger’s have expanded upon for the past two decades,” stated Mr. Allred in a press release. “The Hermosa Inn is an iconic property that we hope to make event better and look forward to being a part of its wonderful place in Arizona’s history.”

Formerly owned by Fred and Jennifer Unger of Hermosa Legacy Partners, who restored and reopened the property in 1994, the inn, at 5532 N. Palo Cristi Road in Paradise Valley, has since undergone a $2 million remodel on rooms and property enhancement in 2009, according to the release.

0520Ns Business (Hermosa Inn Lobby 2)In keeping with the property’s artistic roots, a $2 million art installment was added in partnership with Figarelli Fine Art in 2012.

“Jennifer and I feel very fortunate to have created special memories with employees, neighbors and the community over the past 22 years,” Mr. Unger stated in the release. “We are very pleased that the Allred family will take over from here. They are committed to quality and have a strong background in successful projects. We look forward to seeing their plans come to fruition.”

According to the release, The Hermosa Inn was recently named the ‘Conde Nast Traveler’s 2013 Reader’s Choice Award for Top 25 Resorts in the Southwest,’ and was ranked second in the state for Travel and Leisure Magazine’s 2014 ‘Top 500 Hotels in the World.’

For more information, or to book a stay at The Hermosa Inn, call toll free at 800-241-1210 or visit www.HermosaInn.com.

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