If you're on your way to or from the sun-baked
Hard Rock Hotel Palm Springs is seeking at least $1.5 million in online crowdfunding from individuals to bring new acts to the hotel, make improvements to its Rock Spa and maybe add a nightclub.
Naturally, this isn't quite a
The individuals who want a slice of the hotel must be "accredited investors," defined by the
According to Realty Mogul, the Beverly Hills-based tech company behind the campaign, this is the first attempt to crowdfund a U.S. hotel online.
Hard Rock Hotel Palm Springs, which is majority owned by Kittridge Hotels & Resorts LLC, has partnered with Goldenvoice, the promoter of the Coachella festival in Indio, to put on electronic dance music-themed pool parties during the event.
So maybe the combination of heat, dust and rave music will inspire some investment activity.
Individuals can put up as much as $3 million each.