PHOENIX ILX Resorts, a developer, operator and marketer of upscale flexible stay vacation ownership resorts in the western United States, has acquired a leasehold interest in prime real estate situated in Sedona, AZ.
The site, currently know as the Canyon Portal Motel, will be remodeled and refurbished into a first class 40-unit hotel to be called Los Abrigados Lodge. The remodeling and refurbishment is expected to be completed prior to the end of the second quarter 2001. The company s initial interest in the property terminates at the end of 2010 with options to renew through 2038. (10/10/00)