Last December, a Maricopa County judge appointed a receiver to take control of Adero Scottsdale due to its owner, Palisades Resorts, defaulting on payments. GRMM Investment Fund has since offered $66.5 million to purchase the 177-room hotel, formerly known as CopperWynd Resort. The proceeds from the sale will be used towards paying off the outstanding loan balance. In 2021, the county assessed the property at $92.4 million for tax purposes.
According to reports from Phoenix Business Journal , GRMM has agreed to retain all current employees at Adero and maintain their franchise agreement with Marriott International Inc., which was established when rebranding from CopperWynd Resort to Adero took place.
The resort boasts stunning views of Arizona’s renowned Four Peaks and McDowell Mountain Range and features a signature restaurant along with two outdoor pools and a 24-hour fitness center for guests’ convenience.
