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Denver-based hotel operator buys The Lodge at Tiburon out of foreclosure

Peregrine Hospitality has purchased The Lodge at Tiburon out of foreclosure, acquiring the downtown property for no more than $27.6 million in unpaid debt.

Francisco Martinez
By FRANCISCO MARTINEZ · 1 min read

Peregrine Hospitality has purchased The Lodge at Tiburon out of foreclosure, acquiring the downtown property for no more than $27.6 million in unpaid debt.

The Denver-based hospitality group owns and operates 57 hotels and resorts with a combined portfolio value of $2.5 billion. It announced the acquisition of The Lodge and the Toll House Hotel in Los Gatos from Procaccianti Cos. in a March 2 news release that did not disclose the foreclosure proceedings.

Peregrine, which rebranded from KSL Capital Partners in January 2025, purchased The Lodge under the KSL name, according to county records.

Tiburon residents Renzo and Crystal Azzarello, who own Luna Blu restaurant on Main Street, operate the hotel's restaurant, Tiburon Tavern, under lease. Renzo Azzarello said last week that he has submitted a request for a three-year contract extension and is optimistic about continuing under the new ownership.

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A version of this story appeared in the March 11, 2026, print edition of The Ark. See something wrong? Request a correction.
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