Flynn Properties, a real estate firm headquartered in San Francisco, has reportedly acquired the Carneros Inn between Napa and Sonoma in California.
The hotel is currently affiliated with the Preferred Hotel Group, and Greg Flynn, founder and CEO of Flynn Properties, told Luxury Travel Advisor that the resort will remain affiliated with Preferred post-acquisition.
“I think it's a magical piece of real estate,” Greg Flynn, founder and CEO of Flynn Properties, told The Press Democrat of the 10-year-old resort.
The acquisition will give Flynn Properties its second resort. It also is a partner in the Esperanza resort in Los Cabos, Mexico.
Word is there will be significant upgrades to the 86-room, 27-acre Carneros Inn—to common areas, guestrooms and food and beverage.
“We are excited to further develop The Carneros Inn experience by working with an ownership group that is committed to taking the resort to a whole new level,” Hilary Newsom, president of PlumpJack Group, said in a statement. PlumpJack was founded by California Lt. Gov. Gavin Newsom, and owns Napa Valley wineries, restaurants and wine stores in San Francisco.
As The Press Democrat further reports, the Carneros sale is just the latest transaction in a dynamic Napa hotel market. Last week, Auberge Resorts sold its stake in Solage Calistoga. In January, a group led by chef Charlie Palmer bought the Harvest Inn in St. Helena. And in November, Auberge Resorts and an investment group bought Calistoga Ranch.
San Francisco-based Flynn Holdings has two principal businesses: restaurants and real estate. The restaurant business operates under Flynn Restaurant Group. The real estate business operates under Flynn Properties. Beyond hotels, it owns 640 Applebee’s and Taco Bell restaurants in 27 states.