PARADISE VALLEY, AZ—Allred Capital LLLP has acquired luxury boutique resort The Hermosa Inn and its LON’s restaurant.
Led by Ronald Allred and his son Mike, the partnership has been developing land, real estate and hospitality related ventures since the 1970s, including building the town of Avon near Vail, CO, and developing the Telluride Ski Resort and the Telluride Mountain Village. The group also owns Rancho Manana Golf Club, in Cave Creek, AZ; is the lead investor and operator of Tubac Golf Resort & Spa, in Tubac, AZ; and has now added The Hermosa Inn to its hospitality portfolio.
“We look forward to continuing the legacy Lon Megargee began here in the 1930s and which the Ungers have expanded upon for the past two decades,” said Ronald Allred. Formerly owned by Fred and Jennifer Unger of Hermosa Legacy Partners, who restored and reopened the property in 1994, the inn has since undergone a $2- million remodel of its rooms and enhancements to the property in 2009 and a $2-million art installment in partnership with Figarelli Fine Art in 2012.
“Jennifer and I feel very fortunate to have created special memories with employees, neighbors, and the community over the past 22 years,” said Fred Unger. “We are very pleased that the Allred family will take over from here. They are committed to quality and have a strong background in successful projects. We look forward to seeing their plans come to fruition.”