Arizona Biltmore Hotel operator agrees to major role with new Mountain Shadows Resort

Paradise Valley, Arizona

The company behind Arizona’s most venerable resort property has reached an agreement to manage one of the most important resorts in the town of Paradise Valley, Arizona.
Dormant for years, KEPT Holdings, led by award-winning designer Dodd Mitchell and two longtime Paradise Valley residents, Bob Banovac and Danny Hendon of HB Equities, announced the agreement in early August. KEPT recently assumed control of the 68-acre property located at 56th Street and Lincoln.
Pyramid Advisors operates more than 49 resort properties throughout the United States. In addition to the Arizona Biltmore, its portfolio includes the Grand Wailea Resort in Maui, La Quinta in California and Doral in Florida.
“Operating a place like the Arizona Biltmore is not only important business, it is a distinct privilege,” said Ed Riley, Senior Vice President of Pyramid Advisors. “We feel the same way about the chance to bring back to life Mountain Shadows resort property in the heart of Paradise Valley.”
The project team, now including Pyramid, will submit its application to Town of Paradise Valley officials for consideration soon. A formal review and hearings are expected to start shortly thereafter.
The plan will include a timeless, contemporary desert design and preservation of the 42-acre Mountain Shadows golf course that hosts approximately 35,000 rounds annually. There will be major resort components on both sides of 56th Street. Adjoining residences in Mountain Shadows East and West will see a return to the historic resort privileges they enjoyed until the property was shuttered.