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Joint Venture Buys Boutique Palm Springs Hotel

Local Investor Sells Dive For Nearly $5.2 Million
The hotel was built in 1954 on almost half an acre in the Palm Springs hospitality market of Riverside County. (CoStar)
The hotel was built in 1954 on almost half an acre in the Palm Springs hospitality market of Riverside County. (CoStar)
By Joe Scheitlin
May 17, 2022 | 8:24 P.M.

Joint-venture partners Mariners Cos. and Reedy Asset Management have acquired the Dive Palm Springs Hotel at 1586 E. Palm Canyon Drive in Palm Springs, California, for $5.15 million, or more than $468,000 per door, from a local owner.

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