Construction finally begins on reimagined Bishop’s Lodge

Richard Holland discusses renovations being made to Bishop’s Lodge in 2019. Holland and his partners own the property on the north side of Santa Fe, and Auberge Resorts Collection operates the resort.

One set of partners in the ownership of Bishop’s Lodge has filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Delaware.

The move by the property’s majority owners came against the wishes of its managing member, Richard Holland.

“We did not need to file for bankruptcy,” Holland said in an interview Wednesday.

Holland and his partners own the property on the north side of Santa Fe, and Auberge Resorts Collection operates the resort.

The filing on Monday seeks to restructure $78 million in debt incurred to create the ultra-luxury, 100-room resort that opened in July with rooms typically priced above $1,100 per night. The debtor is officially listed as BL Santa Fe LLC, the company Holland established when he acquired Bishop’s Lodge in 2014 to upgrade the property to a luxury resort.

Holland said the partners own a majority interest in BL Santa Fe and dispute Holland’s claim that he remains managing member.

Holland did not name his partners.

“This whole mess is unfortunate and will be resolved soon,” Holland said.

Holland used similar words in May when a complaint was filed against BL Santa Fe LLC in First District Court asking to put the Bishop’s Lodge property in foreclosure for nonpayment of a $43 million loan from Fortress Credit Co. LLC. Ten days later, the court issued a “notice of excusal.”



Chapter 11 bankruptcy “usually proposes a plan of reorganization to keep (the) business alive and pay creditors over time,” according to the U.S. Courts website.

The bankruptcy is not expected to affect the operations of Bishop’s Lodge, officials said.

Hotel general manager John Volponi said Bishop’s Lodge “most definitely” will remain open.

“Nothing changes for us,” he said. “We continue to operate as we always have. We are very fortunate that it doesn’t affect us.”

Holland’s entity, HRV Santa Fe LLC, is the disputed managing member of BL Santa Fe LLC.

“This filing was separate from me,” Holland said. “It is very complicated and hard to describe and hard to understand.”

Holland said his preference for accessing additional capital differed from his partners’, who insisted on Chapter 11 bankruptcy.

The bankruptcy document states more than 200 creditors, with estimated assets and liabilities each between $50 million and $100 million.

The bankruptcy filing lists the top 20 creditors with unsecured claims being owed $1.55 million. This does not include claims by secured creditors.

(10) comments

deanna anderson

As a small business in Santa Fe, we are very disappointed. BL owes us and I'm sure we'll never see the payment.

Gretchen Baltuff

Let me try again...There is nothing about the location or the rooms or any of the amenities to make staying there for $1,000 per night. No wonder they're going bankrupt. And it shouldn't have taken 6 years to renovate or rebuilt.

deanna anderson

Having spent considerable time onsite, you are absolutely correct.

Gretchen Baltuff

There is nothing about the location or the rooms or the

DL Arment

As a neighbor of the resort, we look forward to new management. It has been a long a difficult six years of construction, and the development is still not completed.

Carolyn DM

This is what happens when long time locally owned businesses sell out to corporate greed. It's happening all over Santa Fe, unfortunately.

MC Gurule

I sure hope those that provided services can get paid for their work.

Andrew Lucero

Is anyone really surprised that this house of cards is about to come tumbling down? 10 to 1 odds the property will either be in foreclosure or up for sale again within a year or two...

BARRY SILVER

RUN, DON'T WALK TO THE NEAREST EXIT. keep calm and carry on? okay, but at your own peril.

when the alleged head man of this comedy says, '' it's hard to comprehend and hard to explain,'' it's a signal to move on...quickly.

Maria Bautista

Since the beginning, it's been a failure.

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