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The Borrego Ranch Resort & Spa (formerly Casa del Zorro) and adjoining Montesoro Golf & Social Club (formerly Rams Hill), which earlier warned they would close November 30 if they could not find an investor, have now extended the deadline until Jan. 8, both confirmed. First, they extended the date to Dec. 15, and then to Jan. 8. Borrego Ranch, once owned by Copley Press, was sold for a reportedly very low price and refurbished, but still has problems attracting visitors. Montesoro, which went through bankruptcy twice while named Rams Hill, has had trouble selling homes and getting golfers and social club members. Both have filed with the state, indicating there will be layoffs should they close. Borrego Springs Ranch & Spa would lay off 64 people and Montesoro 31.

Comments
8

How much hotel inventory was there?? Like 10 years worth???

No one could have predicted the meltdown we have had-no one. It has been worse than anyone came close predicting.

I don't see this place being able to make a profit anytime soon either.....it is going to take years to clear out the residential REO inventory-and after that is cleared out the commercial REO inventory should be hitting the market.

Dec. 16, 2009

Response to post #1: Perhaps nobody predicted the collapse with any precision, but there have been some economists who were quite accurate: Nouriel Roubini, A. Gary Shilling, James Grant, Henry Kaufman, David Rosenberg, to name a few. I agree the commercial real estate inventory is one helluva overhang. Best, Don Bauder

Dec. 16, 2009

Borrego Ranch Resort apparently hasn't learned much in the past year or more. A few days back, I tried to book a room there--not seriously, just to check the rates--on line. The website is most attractive, but is short on specifics. What I got out of the effort was that a room including dinner for a single night was a steep $295 . . . per person! I still think that $295 there including dinner for two would be rather steep, but for one person out of a room for two is outrageous. Throw in all the spa services, plus three meals, and it is still out of line. Yet, when I was one mouse click away from booking, the price for two adults for one night in a single room was $590. That was their best rate available, and unless I'm mistaken was described as some sort of "special."

Extend the deadline all they want, if they still keep the rates at that level, they'll have almost no guests. And when that is the case, I suppose it will close. What a waste!

Dec. 16, 2009

Response to post #3: Borrego Ranch Resort has tried to go super-upscale. But while Borrego Springs is charming, it's not a haven for the plutocrats. The same factors bedevil Montesoro, the former Rams Hill. Borrego ain't Rancho Santa Fe. Best, Don Bauder

Dec. 16, 2009

For a few years, a group of us friends would go and rent a couple of condos at Rams Hill in early May and late November. We would spend the weekend doing what men do. Playing golf, poker and just having a good time. When they decided to go private, there was no point for us to go there anymore. Plus we could not afford it. These people really screwed themselves.

Dec. 16, 2009

Response to post #5: I have had several posts on the woes at the two clubs. Many people have responded. There seems to be a consensus that the wounds at each are self-inflicted. Best, Don Bauder

Dec. 17, 2009

Don, Do you have any idea what this place sold for when Copley sold it?

Dec. 19, 2009

Response to post #7: No, we never found out. There should be a record of it. Best, Don Bauder

Dec. 19, 2009

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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