Sydell Group Ltd. has acquired the 249-room Holiday Inn Resort at the corner of Sunrise and East Palm Canyon Drive in Palm Springs, CA. The Hotel is just down the road from the Ace Hotel & Swim Club, Palm Springs which Sydell redeveloped out of a former 1965 Howard Johnson’s location.  Sydell will reposition and re-brand the hotel and its food & beverage offering.  Joie de Vivre hotels has been selected to manage the soon to be renovated property.

Sydell acquired the leasehold interest for $10.2 million, a significant discount to replacement cost.  The three-story hotel, originally constructed in 1977, underwent a complete renovation between 2007 and 2008 during which prior ownership spent approximately $19 million converting the hotel to a Holiday Inn franchise.  The hotel features an expansive outdoor pool and an existing full service restaurant. 

The Hotel was originally named “The International”