PHOENIX As previously reported by HOTEL BUSINESS., KSL Recreation Corp. has inked a deal for the 730-room Arizona Biltmore Resort & Spa. KSL has agreed to pay Boca Resorts more than $343 million in cash and assumed debt for the infamous resort property, making it the third owner in the past three years. Boca Resorts will use proceeds of the sale to invest in its business, reduce debt, and for general corporate purposes. (12/26/00)
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