Allred Capital buys The Hermosa Inn
On Wednesday, May 6, the luxury boutique resort The Hermosa Inn, and its award-winning restaurant, LON’s at the Hermosa, was sold to Allred Capital LLLP.
The partnership, led by Ronald Allred and his son Mike Allred, has been developing land, real estate and hospitality related ventures since the 1970s, including building the town of Avon near Vail, Colo., and developing the Telluride Ski Resort and the Telluride Mountain Village. The partnership also owns Rancho Manana Golf Club, in Cave Creek, is the lead investor and operator of Tubac Golf Resort & Spa, in Tubac, and has now added The Hermosa Inn to its historically-‐oriented, hospitality portfolio.
“We look forward to continuing the legacy Lon Megargee began here in the 1930s and which the Ungers have expanded upon for the past two decades,” said Allred. “The Hermosa Inn is an iconic property that we hope to make even better and look forward to being a part of its wonderful place in Arizona’s history.”
Formerly owned by Fred and Jennifer Unger of Hermosa Legacy Partners, who restored and reopened the property in 1994, it has since undergone a $2 million rooms remodel and property enhancement in 2009 and in keeping with the property’s artistic roots, added a $2 million art installment in partnership with Figarelli Fine Art in 2012.
“Jennifer and I feel very fortunate to have created special memories with employees, neighbors, and the community over the past 22 years,” said Unger. “We are very pleased that the Allred family will take over from here. They are committed to quality and have a strong background in successful projects. We look forward to seeing their plans come to fruition.”