The $5.15M sale of Dive marks the highest recorded price in Palm Springs history on a cost per key basis
Today, Foxden Hospitalitythe California-based luxury hospitality management company, announced the sale of its boutique Hotel, Dive Palm Springs, to Mariners Group for $5.15 million. This significant sale, at $468,000 per key, marks the highest recorded price in history for any hotel in Palm Springs and the surrounding Coachella Valley.
Dive Palm Springs emerged in 2019 to high acclaim following a renovation led by Foxden founders Dale & Brookelyn Fox, GM Abdi Manavi, and Interior Designer Vanessa Schreiber. Transporting guests back to the casual elegance of St Tropez in the ’60s, the award-winning, 11-room property has become renowned as one of the most desirable destinations, combining original murals and vintage artwork, contemporary guest rooms, an original Libott swimming pool and a half-acre of private verdant grounds. Dive accelerated its growth despite the pandemic, registering one of the highest occupancy and ADR of any Palm Springs hotel during 2020 and 2021.
“Creating Dive was one of the greatest joys of my career” comments Dale Fox, Founder and CEO of Foxden Hospitality. “It was a deep expression of my personal passion for hospitality and for design. It’s my pleasure to see our beloved hotel find such a great new home with Mariners Group”
Despite multiple bids, Foxden agreed on the sale with Mariners Group based on its extensive experience in the hospitality industry and existing presence in the Palm Springs market.
“When we discovered Dive, we felt it was the perfect addition to our growing hospitality group. The design concept compliments our other Palm Springs hotel, Talavera, and we plan to build upon the great momentum and reputation already established by Foxden Hospitality,” said April Smith of Mariners Group.
“The attention to detail and thoughtful concept by Foxden Hospitality is what allowed Dive Palm Springs to trade at a record price,” adds Adam Gilbert, President, The Firm. “Dive stands out from the crowd as the right way to do hospitality by carving out a high-end niche focused on a discerning traveler who appreciates both style and elegance.”
Founded in 2019 by entrepreneurial husband and wife, Dale and Brookelyn Fox, Foxden Hospitality is a curated collection of architectural gems set in iconic California locations. Guests can opt between jaw-dropping properties in Joshua Tree, prime locations in Palm Springs, and a romantic bungalow in the heart of Venice Beach. Foxden’s diverse range of accommodations not only suits differing tastes, needs and occasions, but further removes the stresses of scouring through rental and hotel websites for luxury destinations.
“We have multiple new projects on the way and look forward to continue developing other amazing design-centered hospitality concepts in compelling marketplaces for years to come,” comments Brookelyn Fox, co-Founder of Foxden Hospitality.