Posted 14 Feb 18 By: No comments yet

Taos hotel on market for $4.9 million

A historic Taos property on the market saw a price drop Monday.

Hotel La Fonda de Taos is now listed at $4.99 million coming down over $500,000.  

The 25-room hotel is the "only hotel on the Taos Plaza," according to NAI Maestas and Ward listing agent Jim Hakeem. And the property has a long history in the ski town. Since 1820, there has been a Taos hotel on the current site of La Fonda with the first being St. Vrain Mercantile Store, which also rented rooms.

Hotel La Fonda is being offered for sale along with three adjacent retail shops and a house coffee shop – Rocky Mountain Chocolate Factory, R.C. Gorman Gallery, Touchstone Gallery and Noulas Coffee Shop. The retailers would continue to lease from the new owner, explained Hakeem. The .43 acre parking lot behind the hotel is also included in the deal.

The boutique hotel is owned by a local family that used to live in Taos, the Sahd family, who have been owners for over 25 years, according to Hakeem. He said the Sahds are looking to inch toward retirement and are "moving on to the next chapter of their lives." According to the hotel's website, the family renovated the hotel in 1998.

Hakeem said, while the seller would entertain all offers, the family is hoping for a buyer that gives the property the "same TLC they have been giving for 25 years."

The hotel was put up for sale about 11 months ago.

Taos was recently named among TripAdvisor's 30 hot cities to visit in 2018. The site featured the city's connection to Georgia O’Keeffe, Taos Pueblo, the nearby Rio Grande Gorge Bridge and the Music on the Mesa festival. 

By:  Shelby Perea, Real Estate Reporter - Albuquerque Business First

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