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San Manuel Investment Authority Acquires Fairmont Scottsdale Princess, Expands Non-Casino Portfolio

By jili tutorial · October 10, 2026

San Manuel Investment Authority Acquires Fairmont Scottsdale Princess, Expands Non-Casino Portfolio

Introduction

The San Manuel Investment Authority (SMIA), the investment arm of the San Manuel Band of Mission Indians, has recently announced the acquisition of the Fairmont Scottsdale Princess in Scottsdale, Arizona. This move marks a significant addition to SMIA’s growing portfolio of non-gaming assets. The acquisition underscores the tribe’s strategic shift towards diversifying its investments beyond the casino industry.

The Acquisition Details

Financial Terms

While the exact financial terms of the deal remain undisclosed, records from the Maricopa County recorder’s office reveal that four parcels of the 65-acre property were sold for $241.4 million. This price includes nearly $24 million worth of equipment, fixtures, and other intangible assets. The seller in this transaction was Strategic Hotels & Resorts.

About Fairmont Scottsdale Princess

The Fairmont Scottsdale Princess is a premier luxury resort located in Scottsdale, Arizona. Known for its opulent accommodations and world-class amenities, the resort has garnered numerous awards and accolades over the years. Notably, it received the AAA Timeless Diamond designation in 2025 for maintaining its Five Diamond status since 1991. Additionally, the resort has been consistently recognized as one of Condé Nast Traveler’s Readers’ Choice Awards ‘Top Resorts in the Southwest’ for the past three consecutive years.

San Manuel Investment Authority’s Background

Gaming Interests

Bettors in Southern California and Las Vegas may already be familiar with San Manuel through its gaming ventures. The tribe owns the Yaamava’ Resort & Casino, formerly known as San Manuel Casino, located in Highland, California. Yaamava’ is one of the largest tribal casinos in California, a state that leads the U.S. in terms of gross gaming revenue (GGR) generated by tribal casinos.

In May 2021, San Manuel expanded its gaming portfolio by acquiring the Palms Casino Resort in Las Vegas from Red Rock Resorts for $650 million in cash. This acquisition was notable as Red Rock Resorts incurred a loss on the deal, having initially purchased the venue for $312.5 million and subsequently investing $690 million in enhancements.

Non-Gaming Ventures

San Manuel’s acquisition of the Fairmont Scottsdale Princess is not its first foray into the luxury hotel market. In July 2023, the tribe purchased a 40% stake in the Waldorf Astoria Monarch Beach in Dana Point, California. By October 2025, San Manuel had attained majority control of this property. Hilton manages the hotel, while Troon oversees the golf operations.

Strategic Significance of the Acquisition

Golf Tourism Appeal

One of the compelling factors behind the acquisition of the Fairmont Scottsdale Princess is its proximity to TPC Scottsdale, the home of the WM Phoenix Open. This event is one of the most popular annual stops on the PGA Tour, attracting a significant influx of visitors to the area. The Fairmont Scottsdale Princess benefits from increased occupancy and elevated demand during the tournament week, making it a lucrative investment for San Manuel.

Diversification Strategy

The acquisition aligns with San Manuel’s broader strategy of diversifying its investment portfolio. By expanding into the luxury hospitality sector, the tribe mitigates risks associated with reliance on gaming revenues and taps into a stable and profitable industry.

Conclusion

The acquisition of the Fairmont Scottsdale Princess by the San Manuel Investment Authority represents a pivotal move in the tribe’s investment strategy. By adding a prestigious non-gaming asset to its portfolio, San Manuel continues to demonstrate its commitment to diversification and long-term financial stability. The Fairmont Scottsdale Princess, with its rich history of accolades and prime location, is poised to generate substantial returns for its new owners.