Chandler’s historic Crowne Plaza San Marcos Golf Resort has been acquired by Interwest Capital Corporation.
The sale closed Monday. The property will be managed by an affiliate of GF Management, one of the nation’s fastest growing hospitality management and development companies, according to a press release.
The hotel was foreclosed in 2011, but has continued to operate.
The property opened as the Grand Hotel San Marcos in 1913. It now has 249 rooms and more than 30,000 square feet of event space.
According to GF Management, the hotel will undergo renovations throughout 2013 and into early 2014.