Jason Walton, a principal of Epix, tells GlobeSt.com that the resort was closed in July for an annual seasonal shutdown and was scheduled to reopen in October, but the reopening will now be scheduled for some time later in the year.

"We haven't finalized the scope of what we are going to do," Walton tells GlobeSt.com, "but I can tell you we are going to retain the classic elegance of the property." Walton says improvements likely will include a water feature, upgrades to the pool and the rooms, and other remodeling plans to be announced.

Walton says Epix, whose principals include some of the principals of Scottsdale-based Kilburg Hospitality, among them William Kilburg, has been tracking the Palm Springs hotel market since 1994. He says Epix "did very detailed due diligence" before deciding to acquire the Griffin property, which is the first acquisition for Epix. The company also recently signed a management contract with the Hotel La Jolla in San Diego, a property owned by an affiliate of William E. Simon's The Simon Group.

"We like the Palm Springs market because it hasn't had a big increase in room inventory, and we like its regional drive-in base of business," Walton tells GlobeSt.com. He says Epix principals have some experience in the market, too, having managed the sales, marketing and conference functions at the Palm Springs Marquis hotel and having been involved in the sale of the former Ritz Carlton in nearby Rancho Mirage.

Entertainer Griffin acquired the Givenchy in 1998. Griffin's hotel holdings include the Beverly Hilton in Beverly Hills as well as the Scottsdale Hilton Resort & Villas and the St. Clerans Manor House near Galway City, Ireland.