Konocti Harbor Resort & Spa, a northern California facility that includes a 5,000-seat amphitheatre and 1,000-seat indoor venue, is on the market for the third time in the last year. The 56-acre Kelseyville property also includes a hotel, spa, meeting space, marina and summer camp.
A labor union has owned the resort for about 50 years, according to the Lake County Record-Bee, and last year settled an investigation by the U.S. Department of Labor into charges of allegedly using about $36 million in member benefits to cover resort losses.
The union hired asset managers WhiteStar Advisors of Florida to oversee the operations and sale of the facility as part of the federal settlement. Irvine, Calif.-based brokerage Atlas Hospitality Group is representing WhiteStar in listing the property.
The listing does not include a price tag, but the Record-Bee reported that a bid for $25 million was received for a different package of Konocti property – one that may have included as much as double the acreage now being listed.
Previous attempts to sell the entire resort property fell through last year. In one instance, Kenwood Investments dropped its bid amid objections to a proposal to build an Indian gaming casino on the property. Page Mill Properties of Palo Alto, Calif., also decided against a $25 million bid.
Konocti Field Amphitheatre reported 36 concerts to Pollstar in 2007, including dates with Rascal Flatts, Aerosmith, Bob Dylan, Montgomery Gentry, Carlos Mencia, ZZ Top and Reba McEntire.
The resort’s Classic Concert Showroom hosted concerts in 2007 with Scorpions, Def Leppard, Peter Frampton, Lewis Black, Kid Rock and Toby Keith.
In addition, the resort offers 225 hotel rooms, 20,000 square feet of meeting space, a 19,000-square-foot spa and 100-slip boat marina along Clear Lake.
Atlas Hospitality President Alan Reay told the Record-Bee he hopes to sell the property by the end of the first quarter of 2008.
"I think there’s a lot of buyers for this," Reay told the paper. "It’s such a great location, with its proximity to the wine country and the Bay Area. It’s irreplaceable real estate that’s very hard to duplicate."
A spokesman for Konocti Harbor Resort & Spa did not return a call for comment from Pollstar at press time.