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Famed Two Bunch Palms Resort and Spa Acquired by L.A. Investment Team

Legendary resort and spa known for its natural mineral springs allegedly was built as West Coast hideout for Al Capone. New owners plan world class renovation.

 
 
Al Capone Suite at Two Bunch Palms
Al Capone Suite at Two Bunch Palms
PRLog - Feb. 22, 2012 - Desert Hot Springs, CA—Two Bunch Palms Resort & Spa a favored haunt by film stars and Southern California well-to-do for nearly a century, has been acquired by an investment team of Hollywood executives Steve Markoff, Donald Kushner, Elie Samaha and real estate investor Gidi Cohen. The new owners will immediately begin a multi-million dollar renovation on the property.

“The resort is a jewel, the word-of-mouth top choice for entertainers, executives and entrepreneurs from all over the world,” said Cohen, president of Los Angeles-based Cohen & Associates (http://cohen-associates.net) who will manage the asset on behalf of the new ownership.  “We will embark on a renovation, faithful to the traditions of this peerless gem, but will spare no expense to re-create a destination at the very pinnacle of the lodging and resort industry.”

The exclusive Two Bunch Palms Resort and Spa is surrounded by 270 acres in Desert Hot Springs, approximately  110 miles due east of Los Angeles.  The rock-wall compound secures 52 private bungalows, most graced with private backyards or patios along with its highly prized natural hot springs and mud baths.  

The naturally flowing thermal waters of Two Bunch Palms is well known for its extraordinary purity and rich  lithium content and is considered to be a natural mood stabilizer. The Spa’s lushly landscaped Grotto boasts two spacious hot pools, which has been sought out by guests from around the world for the water’s healing and restorative powers. The smaller of the two pools is naturally heated to 104 degrees, while the larger pool is maintained at 99 degrees.   The combination of the Grotto/Mud Bath/Spa experience, cleverly known as “being Two Bunched,” was made famous by the 1992 film, “The Player.”

Two Bunch Palms was named "Best for Mineral Springs" each year 2004 through 2010 by the readers of Spa Finder Magazine and ranked by USA Today as “one of 10 great places to relax your mind and body.”

The new owners are also planning to market a line of spa products and beverages which will be made from the Spa’s highly prized natural waters. “There is something special in the water here,” stated Cohen. “People seem to be drawn here specifically for effects of the water.”

“We are laying the groundwork for major renovations throughout the Resort including a Joint Venture with a widely-successful Spa Operator, and expansion of additional acreage to include stand-alone 3000 square-foot Villas, senior housing and a private Post-Operative Surgery Rehab facility.”

The new owners also are in discussions with several proprietors of Chef-driven restaurants in an effort to reinvent The Casino Dining Room, the Resort’s on-site fine dining restaurant.

“The new menu will feature sustainable and local products and will offer organic and decadent dining options,” Cohen added.   “We will also create an expanded wine cellar and are looking for the perfect Chef-Sommelier combination to take the restaurant to the next level of fine dining.”

Two Bunch Palms’ rich history dates back to the 1920s.  Al Capone, the gangland bootlegger allegedly built and used the sprawling complex as his West Coast “hideout.”  Capone’s personal bungalow is believed to feature not only bullet holes, but also underground escape tunnels and a sentry tower for armed bodyguards.
“This was an extraordinary purchase, one that could only be made in times of real estate distress,” said Cohen. “But the problems of the property world mean nothing inside of Two Bunch Palms. The place is simply amazing in its capacity to relax guests—and owners!”

Andrew Kirsh of Beverly Hills-based Raines Feldman acted as lead counsel for the buyer in the transaction.

Photo:
http://www.prlog.org/11806027/1

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Source:bruce beck
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Location:California - United States
Industry:Business, Health, Real Estate
Tags:hot springs, mineral baths, distressed real estate, resort, Hotels
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