Park Hyatt Beaver Creek Resort and Spa has been purchased by a Dallas-based firm, Ashford Hospitality Prime, Inc. for a price of $145 million which is $766,000 per room. The purchase of the iconic Park Hyatt Beaver Creek Resort and Spa was completed in just 3 weeks. The Park Hyatt earned Forbes’ Four Star rating and AAA’s Four Diamond rating. It was one of nine Colorado resorts on Conde Nast Traveler’s Top Hotels in The American West, part of its annual Reader Choice Awards.
The Ashford Hospitality Prime purchase of the 190-room Park Hyatt tops last years Vail Four Seasons sales price of $121 million to a New York Company and it’s Asian Partner. The Vail Cascade Resort and Spa sold last year for $90 million which was a 292-room resort finishing a $50 million dollar renovation. The Vail Holiday Inn also traded hands in January and was bought by a private East Coast group for $22.4 million. It is being renovated and being re-positioned to be a Double Tree Hotel.
For more information on real estate in the Vail Valley, please feel free to contact: Betsy Randall at (970) 401-3011 or visit our website: www.gatewaytovail.com.