Home Hotel industry Napa Valley Rancho Caymus Inn Acquired by Chicago Investment Firm

Napa Valley Rancho Caymus Inn Acquired by Chicago Investment Firm

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Stonehouse Capital, a Chicago-based real estate investment company, has acquired Rancho Caymus Inn, a 26-room boutique hotel in Napa Valley, the investor said in a press release on Oct. 28, the day the deal was finalized. the transaction.

The company purchased Rancho Caymus Inn from George Altamura Jr., said Jeff Broaden, CEO and Managing Partner of Stonehouse. In a call with the Business Journal, Broaden declined to disclose the transaction price, but said the sale included an empty residence on the property and its use will be determined at a later date.

Altamura is a partner in the family business Napa founded over 50 years ago by his father, George Altamura. The Altamura are ubiquitous in Napa as owners and developers of a number of commercial real estate properties, including hotels. The family sold the Yountville Hotel in 2017 for $ 96.5 million. The family also operates Altamura Vineyards and Winery.

The acquisition of Rancho Caymus Inn is the second in Napa Valley for Chicago-based Broaden, who was also involved in the acquisition of Calistoga Ranch while working at AJ Capital Partners, also of Chicago. Broaden and Mark Harmon, the founder and former CEO of Auberge, led the acquisition of Calistoga Ranch in 2013.

The Mill Valley-based Auberge Resorts Collection operates dozens of hotels in the United States and abroad, including two additional properties in Napa: Auberge Du Soleil and Solage.

“We’ve been looking for ways to get back to the valley for a while and when (Rancho Caymus Inn) arrived it kind of ticked the boxes for us,” he said.

Broaden said Stonehouse is moving towards investing in smaller hotels that have charm and stand out in one way or another, such as historically, architecturally or in a desirable location.

Rancho Caymus Inn does the trick.

The property reopened in 2017 after being closed for two years to undergo a multi-million dollar renovation, preserving much of the building, details and original design of the original owner, the late Mary Tilden Morton , of the Morton Salt and Berkeley’s Tilden Park families.

“George did an amazing job with rehab,” Broaden said.

Three years later, however, the pandemic struck and wreaked havoc on the hospitality industry, including Rancho Caymus Inn, so Altamura put it up for sale, Broaden said.

“It sounds so generic, but we’re really proud to be the new shop steward,” Broaden said. “It’s a great little asset and we’re excited to be back in the Napa market.”

Altamura Jr. could not be reached for comment. But the hostel’s website still has a message that reads, “We’re open! As a family business we have been hit hard and we appreciate all the support. Please come stay! ”

Stonehouse brought in New York-based Life House to manage Rancho Caymus Inn, Broaden said.

Among its properties in the United States and Mexico, Life House manages Casa Secoya in the Russian River Valley of Sonoma County, and Metro Hotel in San Francisco, according to Bryan Dunn, general manager. The company has other properties in development, including two more in California: one in Los Angeles and another in Palm Springs.

“We are thrilled to be a part of the treasured Rancho Caymus Inn in the heart of Napa Valley,” said Rami Zeidan, Founder and CEO of Life House, in the press release. “We are grateful to work with Stonehouse Capital and very much appreciate their forward-thinking approach which will bring a wonderfully enhanced and authentic customer experience and optimal profitability through our management platform.”

Rancho Caymus Inn is located at 1140 Rutherford Road in Napa, near Highway 29 and the Silverado Trail.

Cheryl Sarfaty covers tourism, hospitality, healthcare and education. She previously worked for a daily Gannett in New Jersey and NJBIZ, the state’s business newspaper. Cheryl has worked freelance for business journals in Sacramento, Silicon Valley, San Francisco and Lehigh Valley, Pennsylvania. She holds a BA in Journalism from California State University, Northridge. Contact her at [email protected] or 707-521-4259.


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