Picuris acquires full ownership of Hotel Santa Fe

Always the 51-percent owner, Picuris Pueblo is now the 100-percent owner of Hotel Santa Fe, located at 1501 Paseo de Peralta in Santa Fe.

A partnership headed up by hotel managing partner Paul Margetson sold its 49-percent share to the pueblo Jan. 3. Margetson is staying on as the hotel’s general manager.

“I’m getting old; I’m 77,” Margetson said. “It was time for my retirement [as an owner].”

Margetson has been an owner since the development phase of Hotel Santa Fe, which opened in 1991. The other partners were Richard Yates, Deborah Potter and Luther H. Hodges Jr.

“The 49ers, we were called,” Margetson said.

Richard Hughes, a Santa Fe attorney representing Picuris Pueblo, said the pueblo was not seeking 100-percent ownership, but didn’t want an outside entity owning the 49 percent, either.

“The intent is to continue the current trajectory,” Hughes said. “I am sure [Picuris Pueblo] will do more to let the public know the hotel is 100-percent Picuris-owned.”