This Lake Tahoe resort was built in 1926. Credit: Michelle Raponi from Pixabay.

US-based real estate investment, development, and management firm McWhinney has acquired the Cal Neva Resort located on the shores of Lake Tahoe, US.

Financial details of the deal have not been disclosed.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The property, which was once owned by American singer and actor Frank Sinatra, was built in 1926 and later renovated by Frank Sinatra in 1960.

This Lake Tahoe resort was completely shut down for business in 2013.

The recent acquisition by McWhinney marks a new beginning for Cal Neva, with plans to rebuild the resort as a leisure travel destination while paying homage to its legendary heritage.

McWhinney co-founder, chairman and CEO Chad McWhinney said: “We are thrilled for the opportunity to craft the next iteration of this one-of-a-kind resort. The acquisition of Cal Neva is a perfect complement to our existing award-winning hospitality lifestyle portfolio.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Our vision is to reimagine and revitalise this iconic resort with deep historic roots into an exceptional experience for guests and the local community to enjoy for years to come.”

US-based entrepreneur Hayes Barnard will serve as the lead investor of this acquisition.

McWhinney’s project team, in collaboration with The Kor Group, intends to renovate and reopen Cal Neva as a Proper-branded hotel.

Proper Hospitality CEO Brad Korzen said: “We believe the approach Proper Hospitality takes with each of our distinctive projects is the perfect fit for such a rare property. We strive to create an experience that is anchored to its location and creates long term lasting value that supports the local community.”