St. Regis owner submits proposal for Snowmass Village

Elevated Returns has formally begun the public review process for a “transformative reinvestment” in the West Village of Snowmass Village, set to include a hotel under The Ritz-Carlton brand, by officially submitting a land use application to town.

The application advances what a press release calls “a long-term vision” to revitalize a marquee hotel property in the West Village with the aim of improving a gateway to Snowmass Village, maintaining a world-class hospitality brand in Marriott Bonvoy’s portfolio, and creating a destination for community and visitors alike. The proposal includes increased on-site worker housing, modernization, and improvement of the conference and meeting spaces to better support year-round activity and provide both hotel beds and residential.

“This application represents the first formal step in the Town’s land use process,” Stephane De Baets, founder and CEO of Elevated Returns, said in the release. “Our goal is to deliver an inspiring vision for the West Village that respects Snowmass Village’s resort-community traditions, preserves a Marriott product, and elevates the overall experience — fully aligned with the values and direction expressed in the Town’s Destination Management Plan.”

The Town’s established land use and public engagement process, initiated by the application submission, includes staff review, public meetings, and hearings before the Planning Commission and Town Council, according to the release.

“Elevated Returns and its project partners look forward to engaging with community members, local stakeholders, and Town leadership as the proposal moves through this transparent and structured process,” the release reads.

De Baets carries a proven track record of hospitality investment in the region, with a portfolio that includes the revitalization of The St. Regis Aspen Resort and the ongoing redevelopment of the historic Redstone Castle.

“These projects reflect a hands-on, long-term approach to hospitality development focused on quality, activation, and community integration,” the press release reads.

The signed agreement with The Ritz-Carlton highlights Elevated Returns’ commitment to the guest experience and design excellence, aiming to contributes positively to Snowmass Village. The proposal will be reviewed and refined through the Town’s regulatory framework and informed by public input, as is the case with all land use applications.

Additional details about the proposal, including opportunities for community engagement, will be shared as the Town’s review process advances. Design Workshop is the lead planning firm.