McCormick Ranch Resort to Benefit from $40M Upgrade
One of Scottsdale oldest and most renowned resorts is receiving a shot in the arm. Driftwood Capital has refinanced the Scottsdale McCormick Ranch. MetLife Investment Management provided the refinancing loan totaling $115,000,000.
Driftwood’s will use $40 million for the renovation of the McCormick Ranch Resort. It includes a complete redesign of all guestrooms, expanded food and beverage offerings, the introduction of 12 five-bedroom villas, and the addition of a full-service luxury spa. Upon completion, the resort will be part of the Curio Hilton Worldwide portfolio of properties, which provides members and guests with the benefits affiliated with the internationally renowned hotel brand while the resort retains its character and local independent positioning.
Built in 1976 as the country’s first true conference center resort, the property is adjacent to two 18-hole championship golf courses. It boasts 90,000 square feet of indoor-outdoor meeting and event space, two outdoor swimming pools, a spa and fitness center, and several food and beverage outlets.