Ted Turner Buys T or C Hotel

Apr 4, 2013

Media mogul Ted Turner has added the historic Sierra Grande Lodge and Spa to the list of properties he owns in New Mexico.

Officials with Turner Enterprises announced the purchase Thursday. The deal closed March 26, but the price could not be confirmed.

Built in 1929, the lodge is part of the Hot Springs Bathhouse and Commercial Historic District in Truth or Consequences. The area is on the National Register of Historic Places.

Turner says he visited the lodge last summer and fell in love with it.

The property is close to Turner's Ladder and Armendaris ranches, which encompass some 800 square miles. Turner says the ranches are expanding eco-tourism opportunities for quests and the lodge is in a strategic location.

It's also close to Spaceport America, where Virgin Galactic plans to anchor its space tourism business.

Copyright 2013 The Associated Press.