New Mexico
Historic La Posada De Santa Fe hotel sells for $58 million
SANTA FE, N.M. (KRQE) – The historic La Posada De Santa Fe hotel recently sold for $58 million. The 157-room hotel has been around since 1882 and has been operating as a hotel since the 1930s, making it a staple in Santa Fe. Ashford Hospitality purchased the hotel in 2018, and now Abo Empire owns it as of last month.
Cousins Ryan Price and Trey Yates, who run Abo Empire, say the sale came at the perfect time, as the family-owned oil and gas company had just offloaded a family ranch and decided to try a hand in hospitality. “We wanted to find ways of planting those dollars back into New Mexico, and that happened to be right around the time La Posada came on the market,” Price said.
The new owners of Abo Empire are New Mexican locals. They say they have strong ties to the hotel and plan on keeping the building’s tradition alive while making some improvements.
Price and Yates say their families would choose to stay at La Posada during family vacations growing up, and Price even met his wife in the hotel lobby. “It’s always held a strong place in our hearts,” Price said.
So when making improvements, they plan on preserving the hotel’s spirit. “We feel like over the last decade, the hotel’s been underinvested in,” Yates said. “We’ll be pouring back into it and improving the hotel. There’ll be some major renovations happening for the next three years. Our goal is to keep the hotel open during a large part of this process.”
Yates says they’ll be doing the renovations strategically and upgrading each casita piece by piece throughout the process. “We’re gonna look at keeping the same type of New Mexican charm as well as bringing some things up to date,” Yates said.
Crescent Hotels and Resorts, in partnership with William Cole Companies, will manage the hotel together.
NM FAST (New Mexico Federal and State Technology) is now accepting applications for a free space-sector accelerator cohort designed to help New Mexico-based technology companies compete for federal funding through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. The cohort targets founders and researchers pursuing grants from NASA, Space Force and related federal agencies, with programming set to launch July 21.
The cohort will admit six to 10 New Mexico companies and run for 10 to 12 weeks, meeting in weekly sessions of approximately one and a half to two hours. Programming covers the full arc of federal commercialization strategy, including space-sector SBIR/STTR opportunities and federal funding pathways, proposal development for technical narratives and commercialization components, federal procurement positioning and agency discovery, capital strategy and follow-on funding options, and transition planning from Phase I to Phase II awards. Participants also receive targeted one-on-one advisory support throughout the program. The cohort is offered at no cost to accepted companies.
SANTA FE, N.M. – Santa Fe County and Edgewood approved a new agreement and ordinance that secures ongoing fire and EMS services for Edgewood residents.
According to a joint announcement from the Town of Edgewood and Santa Fe County on June 19, the two governments negotiated and adopted a new Joint Powers Agreement and ordinance to keep the Santa Fe County Fire Department serving the town.
County and town representatives drafted the agreement together. The town adopted the ordinance unanimously at a special meeting on June 16, putting an end to weeks of uncertainty.
Santa Fe County District 3 Commissioner Camilla Bustamante said, “I believe we are all relieved to know that the people of Edgewood will continue to have the fire and EMS services necessary to protect their homes, their families, and their community. This community deserves nothing less.”
The announcement said the ordinance takes effect five days after final publication. The statement also said no further action or approval is needed to guarantee continued fire suppression, fire prevention, and EMS services for Edgewood residents.
Both governments noted the agreement will continue indefinitely unless either side ends it with five years’ notice.
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