INDIAN WELLS, CA— The Miramonte Resort & Spa here has been acquired by Lowe Enterprises Investment Management on the behalf of an investment client. The 215-room upscale resort will be managed by Destination Hotels and Resorts, which is a Lowe Enterprises affiliate. The hotel underwent a $28-million renovation in the late 1990s that concluded in 1998 with its reopening. Lowe Enterprises now plans on putting another $5 million into the property in the form of guestrooms, meeting space and public area renovations.
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