Joint venture formed by Biltmore owners plans nine U.S. and international resorts.

Joint venture formed by Biltmore owners plans nine U.S. and international resorts

A new Los Angeles-based hotel development and management company with plans to acquire and build nine U.S. and international properties this year has been formed by a joint venture between Irvine-based IDG Development Corp. and Honolulu-based TSA International.

The Biltmore Hotel Co., which bought The Los Angeles Biltmore in January for $219 million, has signed letters of intent to develop resorts in Hawaii; Deer Valley, Utah; Santa Fe, N.M.; Australia; Scotland; Mexico; Puerto Rico; Eleuthera; and southern France.

Although the company was formed in January, it held a celebratory private reception and dinner at The Los Angeles Biltmore April 4. The event also honored the naming of Colgate F. Holmes as the company's chairman and president. Most recently, Holmes was chief executive officer of Rockresorts, based in Boca Raton, Fla. Before that he founded the Holmes Hotel Co., which managed independent luxury hotels including the Beverly Hills Hotel, the Wigwam Resort in Phoenix and the Colonnade in Boston.

On behalf of his new company, Holmes told the Business Journal, "We think that there's a real niche available at the upper end of the [hotel] market. We believe, however, there is an opportunity to do things differently. A lot of luxury chains operate hotels like cookie-cutters - all their hotels are the same. The truly great hotels of the world have an individual style and character. And we feel we can bring that to our hotels."

Among the distinctive features Holmes said his company will strive to make synonymous with the Biltmore label is "absolutely outstanding recreational facilities."

To illustrate the company's commitment to establishing new industry standards of luxury and service, Holmes said, "We want to be a six-star hotel company."

Though the company presently has no plans for development or acquisition of new hotels in the Los Angeles area, Holmes said he is keeping his eyes open for opportunities that would not conflict with The Los Angeles Biltmore.

The company is currently based in Irvine, but Holmes said it will establish its corporate offices in The Los Angeles Biltmore later this year.

The Biltmore Holding Corp. is the parent company of the new Biltmore Hotel Co., which claims initial capitalization of $5 million. Its other operating companies include Biltmore Development Co. and Biltmore Sports Co.

IDG Development Corp. is chaired by Albert T. DeVaul and has resort properties in Hawaii, Arizona and California. TSA International, headed by Takeshi Sekiguchi, is an investment and development firm with hotel and resort properties worldwide.

The Biltmore Hotel is managed by Windsor Hotel Group.