News

Muckleshoots pay $62.5 million for Salish

How much is the Salish Lodge & Spa worth? The Muckleshoot Indian Tribe paid $62.5 million to buy the lodge, gift shop and more than 50 acres of vacant land and parking across the street, according to county documents.

The lodge last sold for $13.35 million in 1996 when Gateway Cascades purchased it from Puget Western. Gateway, a holding company for the Los Angeles County Employees Retirement Association, also bought 28.6 acres of the vacant parcel in 1996 for $500,000, according to county records.

The County Assessor's Office appraised the lodge and the six total parcels at $16.9 million for 2008 tax purposes. The Salish Lodge, consistently ranked among the world's top hotels, has 89 luxury guest rooms, four suites, a restaurant, meeting room, lounge and spa.

The Muckleshoots signed a 20-year management agreement with Columbia Hospitality, a Seattle-based luxury hotel and resort management company, to manage the Salish.

For the complete story, subscribe to the Valley Record (425) 888-2311

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.
blog comments powered by Disqus

Read the latest Green Edition

Browse the print edition page by page, including stories and ads.

Sep 17 edition online now. Browse the archives.