In the early 1980s, the landscape of luxury hospitality was in its infancy. It was visionaries and experienced real estate development experts like Kim Richards who were able create one-of-a-kind destinations that brought the luxury hospitality world to the almost $150-billion industry it is today.
Following his 1983 appointment as president of Estes Properties, Kim Richards was given a challenge: to create a high-return resort development in the desert of Tucson, Arizona, on newly acquired land with topography known for being extreme difficulty to build on. Despite the uncertainty of how the project would progress, Richards decided to go big or go home — he set out to develop a luxury golf club and resort property. People had doubts about the project, given the land’s reputation and what seemed to be a potentially outlandish plan. But, by working closely with environmental lawyers, landscaping experts and local leaders, Richards introduced a new era of development. Rather than cutting down trees and bursting hillsides, Richards showed the industry how to work with the natural environment and the surrounding desert, creating an experience that intertwined both luxury amenities and connection to the natural world. Between its mindful design elements and thoughtful approach to the guest experience, Ventana Canyon is now one of the most premiere resorts in Arizona. The luxury hospitality industry took a leap forward, with Ventana Canyon becoming a model for future developers and hotel brands.
Ventana Canyon inspired Richards to strive for a new level of excellence in every project he touched, with a particular passion for luxury resort properties. In 1988, Richards acquired Estes Properties and rebranded the company to The Athens Group, bringing along team members who shared the same dedication, drive and excitement for luxury hospitality. Jeff Mongan was one of these key individuals, who joined Richards as founding partner of The Athens Group shortly after its inception — and worked in this leadership role for more than 35 years.
But success wasn’t handed to The Athens Group. The early years of the company were marked by challenges, particularly the recession of the late 1980s and early 1990s. “The capital markets were very challenging for all forms of real estate financing at the time,” Mongan recalls. Richards and Mongan note that to secure financing, the company needed to be extremely strategic about choosing destinations that not only showcased promise but would give them the foundation to pitch their visions. By going this route, The Athens Group was able to attract private equity investment and financing to its pipeline of resort development projects.
The destination-first project that sold investors and kick-started decades of wins was Hualalai. In 1992, Richards and his team formed the Hualalai Development Company to develop the Four Seasons Resort Hualalai on the Big Island of Hawaii. By 1996, The Athens Group unveiled the now-legendary Four Seasons Hualalai Resort — a property that has redefined the tie between nature and luxury with its incredible amenities and connection to the Hawaiian culture. Staying true to the company’s values and experience with Ventana Canyon, Richards and his team knew the only way to develop a successful luxury resort in Hawaii would be to involve the land and spiritual sense of place as much as possible. The Athens Group worked with local leaders, spiritual advisors and experts to not only advise on the resort’s architecture and foundation but also the design and overall guest experience. Now, Four Seasons Hualalai is globally known as a top resort in Hawaii and has been awarded the coveted AAA Five Diamond and two Michelin Keys.
With Ventana Canyon and Four Seasons Hualalai now in their portfolio, The Athens Group pushed further into the luxury hospitality space, despite how young the industry felt at the time. “We saw an opportunity to specialize in luxury hospitality at a time when few others were,” Richards says. “Brands like Four Seasons, Ritz-Carlton and Montage were only just beginning to take off.” With The Athens Team growing as the firm entered the 2000s, they had a network of builders, hoteliers and fellow developers that was growing. They made the strategic decision to leverage their diverse connections to explore potential projects, creating relationships that would continue to reward them for years to come. “Once our reputation was established, we were — and still are — approached by property owners and investors looking to develop a resort or hotel to be the anchor of a master-planned community. The luxury hotel development business is driven by relationships, and we are fortunate to have built a business where people seek us out continually with new opportunities,” notes Richards. Relationship building was the key.
And so was differentiation. Once other developers jumped on the luxury hospitality train, The Athens Group had to continue to innovate and set its properties apart in order to continue its success with hotel partners and investors. They found a particular niche that was not quite tapped into yet: branded residences. “Our company was an early adopter of branded residential offerings as part of the overall mixed-use development plan, to add longer-stay format that would become multi-generational homes,” says Richards. The first branded residential project the company implemented was within Ventana Canyon, where they incorporated residential-formatted condos for those who desired a resort-style experience with the comfort of home. This branded residential model became a key signature for The Athens Group and has been developed in nearly every one of the company’s assets — Montage Deer Valley, Montage Laguna Beach and Ritz-Carlton Half Moon among the most notable.
Richards and Mongan credit The Athens Group’s team for unwavering creativity in an industry that is evolving at a fast rate. “We’ve seen dramatic changes in the hospitality industry over the last 40 years in terms of product evolution, brand reputation and desired amenities by consumers — from wellness to adventure, golf and beyond,” Richards reflects. Strategically timed to the upward trend of wellness-centric destinations and luxury escapes immersed in nature, the firm debuted Nekajui, a Ritz-Carlton Reserve, located in the beautiful Peninsula Papagayo, Costa Rica. The resort has already gained an immense amount of buzz and interest from travelers around the world, particularly due to the design elements and architectural ties to local culture.
With nearly 40 years under their belts, The Athens Group team remains grounded in purpose. “We built something great, and it would not have happened without extraordinary dedication, focus and passion — and a great team of people. Our secret sauce is the cumulative efforts of our highly experienced team members,” Richards says. “We are constantly striving for excellence, while using our abilities to be nimble, creative, innovative over time.” Richards takes pride in how The Athens Group’s team was established — it all began with bringing together like-minded individuals on a mission to create something new, impactful and industry-shaking. Since the company’s inception, Richards and Mongan have nurtured a team that prioritizes not only creativity and greatness but also the friendships between each other and each of their families. With an incredible employee retention rate, The Athens Group has a team that has worked together between 25 and 38 years — and there is no sign of slowing down.
Luxury Legacy
- For nearly 40 years, The Athens Group has specialized in luxury hotels, resorts, branded residences, golf courses and lifestyle amenities.
- The firm is behind premier properties around North America, including Nekajui, a Ritz-Carlton Reserve; Four Seasons Hualalai; Montage Laguna Beach; Montage Deer Valley; and Ritz-Carlton Bachelor Gulch, to name a few.
- The Athens Group will debut the highly anticipated Naples Resort & Beach Club, a Four Seasons Property, in late 2025.
- Athens Group founder Kim Richards is most proud of its Urban Land Institute’s Award for Excellence earned three times: Ventana Canyon in 1987, Four Seasons Hualalai in 1999 and Montage Laguna Beach in 2006.
- Nekajui, a Ritz-Carlton Reserve, is the first-ever Reserve property in Central and South America, and the eighth addition to the highly curated Reserve portfolio.
