Vail division to run Hotel Jerome
ASPEN Vail Resorts announced Monday the Hotel Jerome in Aspen will be managed by one of its subsidiaries after the historic Main Street property changes ownership. The Hotel Jerome is expected to be sold within 45 days to Chicago-based LLCs Elysian Worldwide and Lodging Capital Partners. In a joint announcement with Vail Resorts, the firms said that RockResorts International LLC will manage the 92-bedroom hotel. The addition of the celebrated Hotel Jerome to the RockResorts portfolio exemplifies our commitment to growing a luxury hotel brand and providing an outstanding guest experience in truly unique, spectacular settings, said Rob Katz, chief executive officer of Vail Resorts, in a statement. The Hotel Jerome is synonymous with luxury in every aspect as one of the best places to stay in ski country. The announcement comes after the Hotel Jeromes current owners, Oklahoma Publishing Inc., said last month they were selling the hotel. The owners bought the Hotel Jerome in June 2005 for $33.7 million and were expected to undertake a massive renovation, but grew increasingly frustrated with the citys red tape. That prompted them to abandon the project and sell the hotel, which is closed for the offseason until May 25. RockResorts, a luxury hotel company headquartered in Broomfield, Colo., is a wholly-owned subsidiary of Vail Resorts, Inc. In addition to management of the luxury hotel and its five dining venues and other amenities, RockResorts will assist Elysian and Lodging Capital with ensuring a smooth transition with their intended purchase of the historic hotel, according to the news release. Hotel Jerome has achieved truly legendary status, both in Aspen and around the world, said David Pisor, founding principal of Elysian Worldwide, in a statement. We look forward to working with RockResorts and the city of Aspen as we revive the hotels historic grandeur. Steve Kisielica, principal of Lodging Capital Partners, added, We are delighted to expand our relationship with RockResorts by adding this world-class asset to our growing portfolio of luxury hotels and resorts. Lodging Capital Partners owns another RockResorts managed property, the Snake River Lodge & Spa, in Jackson Hole, Wyo.
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