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According to today's (Oct. 15) issue of the Borrego Sun, the Borrego Ranch Resort & Spa (formerly Casa del Zorro) and adjoining Montesoro Golf & Social Club (formerly Rams Hill) may close by November 30 if they cannot find an investor. The company that controls both entities, Lubert Adler, has formally informed employees that they may lose their jobs. San Diego's Copley Press, which had owned the resort since 1960, put it up for sale in late 2007, as one step in its liquidation process, now nearing completion. It was bought for a reportedly very low price by GH Capital of Sherman Oaks, which then was owner of the golf course and residential development Montesoro. GH put both up for sale in August and control moved to Lubert Adler, but GH is still managing both properties. The resort was extensively remodeled and reopened in mid-2008. Montesoro, which has been through bankruptcy twice while named Rams Hill, is having trouble sellling homes, and the resort does not have sufficient visitors. The whole area has a water problem. The possibility of closing now is a bit of a puzzle, because the Borrego tourist season is just beginning.
According to today's (Oct. 15) issue of the Borrego Sun, the Borrego Ranch Resort & Spa (formerly Casa del Zorro) and adjoining Montesoro Golf & Social Club (formerly Rams Hill) may close by November 30 if they cannot find an investor. The company that controls both entities, Lubert Adler, has formally informed employees that they may lose their jobs. San Diego's Copley Press, which had owned the resort since 1960, put it up for sale in late 2007, as one step in its liquidation process, now nearing completion. It was bought for a reportedly very low price by GH Capital of Sherman Oaks, which then was owner of the golf course and residential development Montesoro. GH put both up for sale in August and control moved to Lubert Adler, but GH is still managing both properties. The resort was extensively remodeled and reopened in mid-2008. Montesoro, which has been through bankruptcy twice while named Rams Hill, is having trouble sellling homes, and the resort does not have sufficient visitors. The whole area has a water problem. The possibility of closing now is a bit of a puzzle, because the Borrego tourist season is just beginning.