Yountville's Vintage Estate, Napa Valley's premier hotel, restaurant and shopping site has sold for $148 million. The property was bought on April 26th by Thayer Lodging, Brookfield Hotel Properties of Maryland. The new owners will keep the Vintage Estate name and it will remain open and fully operational throughout the transition.
Owned by the Egan, Ghilotti and Sandbach families, the property is situated on 22 acres in the heart of Yountville and includes the Villagio Inn & Spa; the Vintage Inn;, the V Marketplace shops, Michael Chiarello’s Bottega and Napa Style and the Vintage Wedding Facility called the Pavilion.
If you ask me the new buyers got one heck of a deal. I truly felt the price would have been $100 million higher given recent hotel sales with prices of more than $1 million per room. Between Villagio Inn & Spa and the Vintage Inn there are 192 rooms. Given this and the always booked wedding facility, the V Marketplace shopping center, the amount of land and location, I truly expected a much higher price for the Vintage Estates.
Some of the recent sales here in the last two years include Yountville's Bardessono hotel which sold for $85 million, $1.37 per room, and the Calistoga Ranch at an estimated $50 million, just over $ 1 million per. Other recent hotel sales , the Carneros Inn for $62 million, the Harvest Inn in St. Helena for $55 million and the Andaz Napa for $72 million.
Check back and I will let you know what if any changes occur. My guess, they will totally remodel all the hotel rooms for the property, though extremely nice, was showing a little wear. What else they do will be interesting to anticipate.