How You Can Own a Slice of The Hard Rock Palm Springs

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Wed, Apr 16, 2014 at 8:05 AM
click to enlarge ED CARRASCO FOR LA WEEKLY
  • Ed Carrasco for LA Weekly
If you've ever wanted to slide into a poolside lounge chair at the Hard Rock Hotel Palm Springs and say, loud enough for everyone in the deep end to hear, that you're an owner here, this is your chance.

It would be an incredibly douchey thing to say, but now's nevertheless the time.

The desire to be a part of something cool knows no bounds. And the folks behind the 163-room resort are banking on that. They announced this morning that just about anybody ...

 ... can invest in this here Hard Rock. Of course, we're talking about anybody with cash.

The venue is operated by Kittridge Hotels & Resorts, which tapped Beverly Hills-based RealtyMogul.com to allow folks to pool their money and become landlords, at least when they're in Palm Springs. According to a statement:
This is the first hotel to be crowdfunded by an online property marketplace.
And what do you get besides poolside views and bragging rights? "VIP benefits," the resort says, including use of the owners' cabana, 25 percent off room rates, free room upgrades, and all the chicks and/or hunks you can handle.

Okay, that last part is luck-based.

According to the Desert Sun, operators are looking to raise $1.5 million for upgrades, including a possible new club (dance clubs are the big draw in not-that-far-away Las Vegas now). That could also pay for like, a half-dozen of the top DJs in the world to play for a few hours each. Really.

Interestingly, the resort is the home of LED Day Club parties during Coachella. The bro-DJ events are promoted by an arm of the billionaire-controlled Anschutz Entertainment Group (AEG), the folks behind Coachella organizer Golden Voice and L.A.'s Staples Center.

So, yeah, they need your money. Andy Carpiac of Kittridge Hotels & Resorts, LLC:
The individual investors who participate in the crowdfunding opportunity now listed on Realty Mogul will be able to experience firsthand what's special about this hotel, and enjoy the potential financial benefits and other benefits of being a hotel owner.
Like room discounts.

Send feedback and tips to the author. Follow Dennis Romero on Twitter at @dennisjromero. Follow LA Weekly News on Twitter at @laweeklynews.

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