Paloma Hotel and Resort – Cathedral City, CA
Clearinghouse CDFI (CCDFI) provided a $2,000,000 loan to Horizon Gardens, LLC. This financing is allocated for the renovation and expansion of The Paloma Hotel and Resort, enhancing its appeal and functionality.
The Paloma Hotel and Resort is a boutique hotel known for its unique character and amenities. The property spans 4.56 acres with 11 buildings, including 64 rooms, a restaurant, bar, community room, and various recreational facilities. Financing provided by CCDFI enables the addition of 24 new rooms, expansion of the parking lot, installation of solar panels, and improvements to the outdoor wedding space and recreational areas. These enhancements significantly increase the hotel’s revenue and guest capacity while revitalizing the local economy through job creation and increased tourism.
Horizon Gardens focuses on developing and operating unique hospitality properties with a mission to provide exceptional guest experiences while fostering local economic growth. With an innovation and community-centered focus, Horizon Gardens has transformed The Paloma into a more sustainable and attractive destination.
Read the full story here: Just Funded – The Paloma Hotel and Resort
23CA-7560
Creates 24 rooms of hotel space, increases revenues, and adds jobs to local community
Provides post-pandemic support for construction on renovations on existing rooms and increase parking space capacity to enable property to reach stabilized occupancy.
