San Manuel Acquires Fairmont Scottsdale Princess, Adds to Non-Casino Holdings

The San Manuel Investment Authority (SMIA), the investing arm of the San Manuel Nation of Southern California, earlier this week announced the acquisition of the Fairmont Scottsdale Princess in Scottsdale, Ariz., adding to its stable of non-gaming holdings.

Financial terms of the deal weren’t revealed, but filings with the Maricopa County recorder’s office indicate four parcels of the 65-acre property were sold for $241.4 million. That price tag is said to include nearly $24 million in equipment, fixtures and other intangible assets. Strategic Hotels & Resorts was the seller. It is clear that Yuhaaviatam of San Manuel Nation is purchasing one of the most prestigious hotels in Arizona.

Fairmont will continue operating the venue.

San Manuel Known to Bettors

In some form, bettors in Southern California and Las Vegas may have experience with San Manuel. The tribe owns the Yaamava’ Resort & Casino at San Manuel, which was rebranded from San Manuel Casino five years ago.

Located in Highland, Calif., Yaamava’ is one of the largest tribal casinos in the Golden State. By gross gaming revenue (GGR), California is the largest tribal casino market in the U.S.

Yuhaaviatam of San Manuel Nation’s other gaming interests include the Palms Casino Resort in Las Vegas, which it acquired from Red Rock Resorts (NASDAQ: RRR) for $650 million in cash in May 2021. Red Rock took a loss on that deal as it paid $312.5 million for the venue and then proceeded to spend $690 million on enhancements.

San Manuel Isn’t a Stranger to Glitzy Hotels

The Fairmont Scottsdale Princess isn’t San Manuel’s first dance with ownership of a high-end non-gaming hotel. In July 2023, the tribe purchased a 40% stake in the Waldorf Astoria Monarch Beach in Dana Point, Calif. By October 2025, the tribe held majority control of the venue.

Hilton manages that property’s hotel while Troon runs the golf operations. Speaking of golf, that may be one of the sources of allure for the tribe’s acquisition of the Fairmont Scottsdale Princess.

The resort is located next to TPC Scottsdale, which is the home of the WM Phoenix Open. That’s one of the most popular annual stops on the PGA Tour, meaning the Fairmont benefits from increased traffic during the week of the tournament.