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.
Josh’s Saturday Night Forecast
NEW MEXICO (KRQE) – Calmer weather has moved back into the state this afternoon. Temperatures are slightly warmer across northwestern New Mexico, while southeastern areas are cooler thanks to the backdoor cold fronts that moved in on Friday. Breezier winds will return Sunday and will help kick off a warming trend across the state, along with an elevated fire threat in eastern New Mexico.
Warmer weather will continue building in across the state throughout the upcoming week. A few isolated rain chances will return Monday in parts of New Mexico, but some of that rain may evaporate before reaching the ground.
Good morning!
Heading out the door this morning? Bundle up! Cold air has settled into the Land of Enchantment after two cold fronts passed through New Mexico within the last 24 hours. Temperatures have fallen to the teens, 20s and 30s throughout northern New Mexico. The metro area is just as cold with Moriarty falling to the teens and several other cities bottoming out near the freezing point. The National Weather Service (NWS) has Freeze Warnings in place until 9 a.m. for several locations in northern and central New Mexico. However, one of the aforementioned cold fronts is still moving through eastern New Mexico this morning. That back door cold front has brought 30-45 mph wind gusts, or more, in southeastern New Mexico. The front will push west further west this morning bringing breezy winds to far south and southwestern New Mexico this afternoon. Otherwise, much calmer weather will be on tap for the state compared to the majority of this week.
The colder air this morning will bring cooler and seasonable weather to the Land of Enchantment later on Saturday. Afternoon highs will range from the high 50s, in sections of the northern mountains, to the 70s in southern New Mexico. Throughout the weekend into early next week a warming trend is expected as a ridge of high pressure builds on Sunday, which is forecasted to last through at least Tuesday. By next Tuesday, high temperatures will be 5 to 15 degrees above normal, and even warmer for some locations by next Wednesday with breezy conditions returning to the state.
Moisture does stream back into the state early next week across New Mexico. Tomorrow’s forecast is expected to have cloud coverage increase with warmer weather. On Monday sufficient moisture in the mid to upper levels of the atmosphere will bring the chance for showers; however, moisture levels toward the surface will be lower. That will also bring the chance for dry showers and thunderstorms throughout the state. Have a great weekend and stay warm this morning!
ALBUQUERQUE, N.M. (KRQE) – A New Mexico man has taken a plea deal for his role in the death of a three-year-old girl more than two years ago. Police said that Kerri Santos brought her toddler to University of New Mexico Hospital, claiming that she fell and hurt herself. Medical staff determined the child was already dead when she arrived, and noticed signs of abuse, including evidence that she had been tied up. Police said that Santos and three others were staying at James Welch’s home when the abuse took place.
On Friday, Welch pleaded no contest to three counts of child abuse and tampering with evidence. He faces up to five years behind bars.
-
Culture10 minutes agoFamous Authors’ Less Famous Books
-
Lifestyle16 minutes agoSunday Puzzle: For Mimi
-
Technology28 minutes agoThe future of local TV news has taken a Trumpian turn
-
World34 minutes agoPope Leo says remarks about world being ‘ravaged by a handful of tyrants’ were not aimed at Trump: report
-
Politics40 minutes agoTrump renews bridge, power plant threat against Iran in push for deal, mocks ‘tough guy’ IRGC
-
Health46 minutes agoLoneliness may be silently eroding your memory, new research reveals
-
Sports52 minutes agoESPN’s Stephen A Smith hears boos from WrestleMania 42 crowd
-
Technology58 minutes agoChinese robot breaks human world record in Beijing half-marathon