Business Monday Briefs: Woodbridge developer hit with another setback
The setbacks keep coming for the Woodbridge developer of high-end homes and its affiliates.
Last week the Colorado Securities commissioner ordered the Woodbridge Funds to immediately stop violating the Colorado Securities Act, including the use of unlicensed sales representatives to solicit and sell unregistered non-exempt securities, and fraudulent and misleading statements related to the sale of securities.
The decision comes on the heels of a number of cease-and-desist orders against various persons doing business in Colorado who sold Woodbridge products to their clients.
Since Colorado’s initial action in January, the U.S. Securities and Exchange Commission has charged Woodbridge’s operators with conducting a $1.2 billion Ponzi scheme. The case is pending.
Sherman Oaks, California-based Woodbridge has properties in California and Colorado, including the Roaring Fork Valley, where it sold a Snowmass home for $9.5 million last week as part of its bankruptcy proceedings.
Daily rate at Vail lodges most expensive in state in April
April marked the first month of this year that a Colorado town other than Aspen charged the most expensive daily rates.
The Rocky Mountain Lodging Report, released Friday, showed that Vail lodges had an average daily rate of $227.85 in April, tops in the state. Aspen’s $220.68 average rate was second.
Aspen lodges also were 34.9 percent full in April, traditionally an off month for local tourism.
Even so, Aspen can lay claim to having the highest occupancy rate in the state for the first five months of 2018.
With a 69.7 percent lodging occupancy rate, Aspen outpaced Breckenridge (68.6 percent), Greeley (68.1), Denver (67.8) and Loveland (67.7), the other markets with Colorado’s top five occupancy rates.
Through the first third of 2017, Aspen’s occupancy rate was 70.4 percent, according to the report.
The lodging report is commissioned by the Colorado Hotel and Lodging Association.
Two familiar faces will highlight Wednesday’s Aspen Business Luncheon.
Olympic bronze medalist Chris Klug will interview skiwear innovator Klaus Obermeyer, 98, upstairs at the Mountain Chalet. The event goes from 12:30 p.m. to 2 p.m. Sandwiches will be will be provided by Jour de Fete.
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The property tax overcharge refunds are in the hands of Basalt residents. A new civic organization is cranking up its campaign to have recipients contribute some or all of their refunds to the Basalt Gives effort to benefit midvalley-serving nonprofits.