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Meyers Group acquires historic hotel in El Paso

Meyers Group acquires historic hotel in El Paso
The firm’s planned upgrade of the Camino Real Hotel is its 2nd project in the Texas town
October 22, 2016 03:00PM

The Camino Real Hotel in El Paso, Texas

The Meyers Group in Coral Gables bought and plans to renovate an historic downtown hotel in El Paso – the second Meyers project in the Texas border town.
Meyers acquired the 356-room Camino Real Hotel at 101 South El Paso Street for an undisclosed amount and plans an 18-month renovation of the property.
“The hotel was for many years the crown jewel of the Southwest. Our vision is to restore it beyond its former glory and to finally fulfill the pressing need for a convention hotel in downtown El Paso,” Josh Meyers, director of real estate development at Meyers Group, said in a prepared statement.
Officially co-headquartered in Coral Gables and El Paso, Texas, Meyers plans to renovate each room at the Camino Real, the entire lobby level including a famous domed restaurant and bar, the grand ballroom on the second floor and meeting rooms and conference space.
Plans also include restoration of the hotel’s historic 10-floor ballroom and terrace. Originally built in 1912, the Camino Real has been listed since 1979 on the National Register of Historic Places.
When the 18-month renovation is completed, the hotel also will feature a pool and poolside deck, a full-service spa and a gym, plus food and beverage service on terraces overlooking the city.
Elsewhere in El Paso, Meyers recently closed on the purchase of a four-acre lot at 201 Shadow Mountain Drive where it plans to develop a mixed-use project with 300 condos and 50,000 square feet of space for supportive retailers, including food and beverage operations. Real estate developer Stuart I. Myers is the founder of Meyers Group.

Source: The Real Deal

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