LCR Capital has partnered up once again with the HALL Group to bring another strong EB-5 project to the market. Embodying the Rat Pack era style Palm Springs is famous for, the new Thompson Hotel will put a fresh spin on this iconic California destination.
Whether you’re a So-Cal native looking for a weekend getaway in style or someone wanting to explore the Palm Springs area for a longer period, Thompson Hotel will allow for a full immersion into the essence of Palm Springs with unmatched amenities, suites with private pools, award-winning chef-run restaurants all within its 36,800 square-feet residence. The resort is designed as a collection of small buildings, each consisting of bungalow-style guest rooms. You can sip on a cocktail and take in the breathtaking view of the San Jacinto Mountain, exchange a martini for a wine glass at the hotel’s HALL Wines tasting room, or prioritize your wellness at an on-site spa and fitness centre.
Owned by Hyatt, the Thompson Hotel will be affiliated with the World of Hyatt points program, making it an appealing destination for frequent travelers.
This is an exciting EB-5 project for many reasons that extend beyond an unmatched experience the Thompson Palm Springs promises to provide its guests. The developer chosen for the project – HALL Group — similarly boasts an impressive track-record not only in luxury development but also in EB-5-specific investment projects. Like previous HALL Group EB-5 projects, this project includes a set of guarantees to assure investors: these are the Corporate Guarantee, EB-5 Loan Repayment Guarantee, I-526 Denial Guarantee and unconditional Project Completion Guarantee.
Palm Springs is already a popular destination for tourists, located within the Coachella Valley of Southern California. It is also part of what locals call the Inland Empire. The area around Palm Springs is the 12th largest Metropolitan Statistical Area (MSA) in the US. The population of the area alone is enough to bring plenty of clientele toward the new luxury resort in town, to say nothing of the number of cultural events that drive thousands of tourists to the area every year.
Not only does the Thompson Hotel come equipped with latest developments in luxury and hospitality but it’s built in mind with sustainability, eco-friendliness, and therefore, long-term vision. It has been developed with future innovation in mind, which means it will thrive in the future that is just around the corner.
Finally, LCR Capital Partners maintain its well-known structure of working with projects that take into consideration the needs of the EB-5 applicant: well and conservative financial structure to protect the applicant’s principal capital, strong job creation and compliant documentation to ensure all the EB-5 requirements are met.
The EB-5 capitalization started in Q2 2023, and the hotel is scheduled to have a soft open on December 2023. The full project is scheduled to be completed in June 2024.
