Hotel-condo complex slated for Palm Springs
Palm Springs, which has been making a comeback as a resort destination in recent years, may soon have another tourist lure: a $100-million Mondrian Hotel and condominium complex.
Morgans Hotel Group Co., a luxury hotelier based in New York, is expected to announce plans today for a 200-room Mondrian Hotel on Amado Road across from the Palm Springs Convention Center. It is scheduled to open in 2010.
“We see tremendous opportunities in the resurgence of downtown Palm Springs,” said Fred Kleisner, president of Morgans.
Plans are for the complex to include 135 residences. Privately owned units with hotel services have become common in resort developments.
For decades, before other desert cities became popular, Palm Springs was a glamorous getaway for movie stars and others. Now people in their 20s and 30s are rediscovering Palm Springs, said hotel consultant Donald Wise of Johnson Capital.
“The area is under tremendous revitalization,” Wise said. “Palm Springs is not your father’s Oldsmobile anymore.”
Other hotels being planned near the city’s convention center include a Hard Rock and a Westin. Two more may be announced soon, Wise said.
In addition to the original Mondrian in West Hollywood, Morgans owns the Clift in San Francisco, the Royalton in New York and the Delano in Miami. Its partner in the Palm Springs Mondrian is Loft Partners Palm Springs.
Shares of Morgans fell 86 cents Friday to $17.25.
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