If your in the market for one of Napa Valley’s best know locations, you’d better have very deep pockets. After owning this gem since 1977, the Egan and Ghilotti families have put this Yountville gem up for Sale
The property is situated on 22 acres and includes the Villagio Inn & Spa; the Vintage Inn;, the V Marketplace shops, Michael Chiarello’s Bottega and Napa Style and the Vintage Wedding Facility called the Pavilion. The owners are so confident about this property selling, they didn’t set a selling price. With recent local hotel sales, rooms are going $1,000,000 per key. Given there are 192 rooms, the two hotels will bring around $200 million. The shops will fetch a few million but the Wedding Facility which is fully booked up to two years in advance, I estimate is worth $25-50 million.
There are at least 20 interested parties and the first round of offers were reviewed by the sellers a week ago Thursday. The owners then will select the best buyers and all will be given a second chance to come up with their final and best offer. I think it will take between $250-300 million to be the successful buyer. I had a buyer interesting in the property but their were acquired by another company in a multi billion deal and the new owners have no interest in this property.
In case you wonder about what type of commission one makes in such a large deal, the sellers are not paying a commission to the buyer’s agent. I would have needed my buyer to do so and would have been happy to get 1/2 percent. In these type of deals almost always their are corporate attorneys involved and they would handle the contracts. I would have been their representative who could guide them on local matters. The photo on the right is from the Pavilion website.