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Olympus Real Estate to restore Murrieta Hot Springs to former glory following US$50m investment
POSTED 19 Oct 2022 . BY Megan Whitby
The property is due to reopen in 2024, following an 18-month refurb project Credit: Murietta Hot Springs
California’s historic Murrieta Hot Springs has been purchased for US$50m (€51m, £44.4m) by Olympus Real Estate Group, a real estate investment and development firm with plans to renovate and preserve the 46-acre property as a hot springs wellness resort and day spa.

The property, located in southwest Riverside County, is fully developed with approximately 279,000sq ft of infrastructure including existing operating hot springs, 38 buildings, 12 guest lodges with over 200 rooms, two large auditoriums, commercial kitchens and restaurant facilities.

“It’s an extraordinary property with a long and deep-rooted history in the community,” said Justin Esayian of The Hoffman Company, who was the sole listing broker on the transaction.

“To see it going back to its origins as a major destination for wellness and rejuvenation is a boon for the entire Temecula Valley. It has the potential to transform the wine region’s tourism market and generate significant tax revenue for the city.”

Over the next 18 months, Olympus plans to renovate the property and reopen it as a wellness resort with expanded use of the natural hot springs, overnight guest lodging, a full suite of wellness classes and activities, a geothermal-focused spa and access for day guests.

The company also owns The Springs Resort in Pagosa Springs, Colorado, an award-winning wellness destination with strong community ties including local memberships, affordable housing for employees and generous contributions to non-profit organisations.

“Murrieta Hot Springs is an irreplaceable property with tremendous history,” says David Dronet, founder and principal of Olympus.

“We’re very thankful to Calvary Chapel for its stewardship of the property over the past quarter-century and are looking forward to revitalising and re-opening it as a first-class hot spring resort and day spa.”

He adds: “Years ago, the Murrieta Hot Springs Resort was one of the preeminent health resorts in the country. We’re honoured to work with the Murrieta community and our amazing health and wellness team to make the Murrieta Hot Springs Resort a world-class wellness destination once again.”

Originally developed in 1902 as a health retreat, the Murrieta Hot Springs resort attracted locals, travellers and celebrities to its restorative waters before falling into disrepair in the 1980s.

It came back to life in 1995 when Calvary Chapel of Costa Mesa converted it into a Christian conference retreat centre and Bible College Campus. The church’s decision to sell the historical landmark was prompted by a shift in focus for the Church, exacerbated by the closure of its facilities during COVID-19.

Mike Mugavero of Calvary Chapel commented: ‘when our church, Calvary Chapel of Costa Mesa, first stepped foot on the property in 1995, we began to invest in restoring and improving the property to what it is today.

“During the 25-plus years of ministry, many churches were blessed to be served for retreats for their congregations. The church’s Bible College grew in its outreach as a place for young people to come and receive a strong biblical education.

“When the property went on the market 18 months ago, it generated outsized interest from mega-churches to medical centres to educational institutions worldwide. But local officials and the community have long waited for Murrieta Hot Springs to be rejuvenated and the city helped facilitate the approval process for a resort.”
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
RELATED STORIES
  Murrieta Hot Springs completes 18-month restoration project


US developer Olympus Real Estate Group has breathed new life into California's historic Murrieta Hot Springs Resort following a comprehensive 18-month revamp project.
  California's Murrieta Hot Springs Resort reopening February 2024 after extensive refurb


For the past 30 years, historic Southern California hot springs retreat Murrieta Hot Springs Resort has been out of action and closed to the public. Next February, the southwest Riverside County icon will start a new chapter and reopen following an intricate revamp by Olympus Real Estate Group.
  The Springs Resort announces major expansion with 2025 opening


The Springs Resort in Pagosa, Colorado, is set to undergo a significant expansion to elevate its hotel and day pass guest experience.
  Vast geothermal lagoon costing up to $500m could open in Québec in 2024


Plans for a net-zero geothermal bathing lagoon and chalet village near Québec City, Canada, are blazing a trail in sustainability.
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NEWS
Olympus Real Estate to restore Murrieta Hot Springs to former glory following US$50m investment
POSTED 19 Oct 2022 . BY Megan Whitby
The property is due to reopen in 2024, following an 18-month refurb project Credit: Murietta Hot Springs
California’s historic Murrieta Hot Springs has been purchased for US$50m (€51m, £44.4m) by Olympus Real Estate Group, a real estate investment and development firm with plans to renovate and preserve the 46-acre property as a hot springs wellness resort and day spa.

The property, located in southwest Riverside County, is fully developed with approximately 279,000sq ft of infrastructure including existing operating hot springs, 38 buildings, 12 guest lodges with over 200 rooms, two large auditoriums, commercial kitchens and restaurant facilities.

“It’s an extraordinary property with a long and deep-rooted history in the community,” said Justin Esayian of The Hoffman Company, who was the sole listing broker on the transaction.

“To see it going back to its origins as a major destination for wellness and rejuvenation is a boon for the entire Temecula Valley. It has the potential to transform the wine region’s tourism market and generate significant tax revenue for the city.”

Over the next 18 months, Olympus plans to renovate the property and reopen it as a wellness resort with expanded use of the natural hot springs, overnight guest lodging, a full suite of wellness classes and activities, a geothermal-focused spa and access for day guests.

The company also owns The Springs Resort in Pagosa Springs, Colorado, an award-winning wellness destination with strong community ties including local memberships, affordable housing for employees and generous contributions to non-profit organisations.

“Murrieta Hot Springs is an irreplaceable property with tremendous history,” says David Dronet, founder and principal of Olympus.

“We’re very thankful to Calvary Chapel for its stewardship of the property over the past quarter-century and are looking forward to revitalising and re-opening it as a first-class hot spring resort and day spa.”

He adds: “Years ago, the Murrieta Hot Springs Resort was one of the preeminent health resorts in the country. We’re honoured to work with the Murrieta community and our amazing health and wellness team to make the Murrieta Hot Springs Resort a world-class wellness destination once again.”

Originally developed in 1902 as a health retreat, the Murrieta Hot Springs resort attracted locals, travellers and celebrities to its restorative waters before falling into disrepair in the 1980s.

It came back to life in 1995 when Calvary Chapel of Costa Mesa converted it into a Christian conference retreat centre and Bible College Campus. The church’s decision to sell the historical landmark was prompted by a shift in focus for the Church, exacerbated by the closure of its facilities during COVID-19.

Mike Mugavero of Calvary Chapel commented: ‘when our church, Calvary Chapel of Costa Mesa, first stepped foot on the property in 1995, we began to invest in restoring and improving the property to what it is today.

“During the 25-plus years of ministry, many churches were blessed to be served for retreats for their congregations. The church’s Bible College grew in its outreach as a place for young people to come and receive a strong biblical education.

“When the property went on the market 18 months ago, it generated outsized interest from mega-churches to medical centres to educational institutions worldwide. But local officials and the community have long waited for Murrieta Hot Springs to be rejuvenated and the city helped facilitate the approval process for a resort.”
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
Credit: Murietta Hot Springs
RELATED STORIES
Murrieta Hot Springs completes 18-month restoration project


US developer Olympus Real Estate Group has breathed new life into California's historic Murrieta Hot Springs Resort following a comprehensive 18-month revamp project.
California's Murrieta Hot Springs Resort reopening February 2024 after extensive refurb


For the past 30 years, historic Southern California hot springs retreat Murrieta Hot Springs Resort has been out of action and closed to the public. Next February, the southwest Riverside County icon will start a new chapter and reopen following an intricate revamp by Olympus Real Estate Group.
The Springs Resort announces major expansion with 2025 opening


The Springs Resort in Pagosa, Colorado, is set to undergo a significant expansion to elevate its hotel and day pass guest experience.
Vast geothermal lagoon costing up to $500m could open in Québec in 2024


Plans for a net-zero geothermal bathing lagoon and chalet village near Québec City, Canada, are blazing a trail in sustainability.
MORE NEWS
US$60m Zion Canyon Hot Springs project breaks ground in Southern Utah
A brand new desert hot springs oasis, called Zion Canyon Hot Springs, is set to open in Southern Utah in Q3 of 2025.
Dedicated recovery clubs tipped to become a trend
Recovery, social wellness and longevity were talking points at the recent PerformX Live, tipped by many speakers as upcoming trends, while the exhibition halls featured infrared saunas, compression therapy and ice baths.
Research: Kundalini yoga provides cognitive benefits to postmenopausal women at risk of Alzheimer's
A new study by UCLA Health found Kundalini yoga provided several benefits to cognition and memory for older women at risk of developing Alzheimer’s disease.
New lakeside spa oasis set to open at The Ritz-Carlton-Reynolds, Lake Oconee
Luxury lakeside retreat The Ritz-Carlton-Reynolds, Lake Oconee in Georgia, US, is gearing up to unveil its new-look destination spa this May following a comprehensive makeover.
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Living Earth Crafts (LEC) has re-launched its best-selling multipurpose spa treatment table the Century City™, redesigned to include both the ultra-luxurious Strata Cloudfill™ replaceable SpaMattress™ and the only Thermasoft™ Dual-Zone Embedded Table Warmer on the market. [more...]
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Curry Spa Consulting has been providing clients in the high-end and luxury hospitality sector with s [more...]
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14-15 Apr 2024

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