CBRE Hotels announced that it has arranged the sale of the 190-room Park Hyatt Resort & Spa located at 136 E. Thomas Place in Beaver Creek, Colorado, to Ashford Prime for $145.5 million.
Bernard Van der Lande, director, CBRE Capital Advisors, and Mark Darrington and Larry Kaplan, senior vice presidents, CBRE Hotels, represented the seller, an international private equity firm.
“We continue to establish a new standard of pricing for Mountain West resort product, establishing ourselves as the preeminent brokerage team in the region,” said Mr. Darrington.
“Coupling our investment banking and brokerage capabilities translates into a uniquely global approach grounded in local execution. Our string of transactional successes has instiutionalized market resort product; whereas the seller is an important client, we’re pleased to have achieved a great result for them,” continued Mr. Van der Lande.
The Park Hyatt is a trophy asset, located slope-side in the epicenter of the picturesque mountain resort village of Beaver Creek, Colorado. The property boasts Vail Valley’s best ski-in/ski-out access to one of the world’s most celebrated ski destinations, Beaver Creek Mountain.
The luxury resort includes 190 guestrooms, including 23 suites. In addition to large, spacious rooms, averaging over 465 square feet, the resort features a world-class, Forbes Four-Diamond 30,000 square foot spa, more than 20,000 square feet of flexible meeting and event space, and world-class dining with 8100 Mountainside Bar & Grill. Notably, the Park Hyatt features more than 18,800 square feet of fully leased, highly visible retail space in the heart of Beaver Creek.
A true multi-season destination owned and operated by Vail Resorts, Beaver Creek Mountain was ranked in the Top 10 U.S. Mountain Resorts by Visitation for the 2015/2016 ski season. Adding to the destination’s caché both domestically and internationally, Beaver Creek hosts annually North America’s only World Cup downhill race for men. Furthermore, summer guests enjoy championship golf, hiking, fly fishing and rafting. Situated within the Vail Valley, the destination is an extremely popular vacation destination in both the winter and the summer, averaging almost two million visitors annually.
CBRE Hotels is a specialized advisory group within CBRE providing capital markets, consulting, investment sales, research and valuation services to companies in the hotel sector. CBRE Hotels is comprised of over 385 dedicated hospitality professionals located in 60 offices across the globe. CBRE Capital Advisors is the real estate investment banking unit of CBRE in the Americas with a FINRA-registered broker-dealer office in New York, and provides independent advisory and equity placement, working in partnership with the CBRE platform.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
