Mission Hill Hospitality, a select service and extended stay hotel investor, announced it has acquired the 129-key Residence Inn by Marriott in Breckenridge, Colorado. Terms are undisclosed.
This marks Mission Hill's third acquisition in the Centennial State, following the purchases of the Holiday Inn and La Quinta Steamboat Springs in early 2023. The portfolio now includes 33 hotels across 16 states: Alabama, California, Colorado, Florida, Georgia, Kansas, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Oregon, South Carolina, Texas, Vermont and Virginia.
“We are excited to expand our Colorado portfolio in one of the country's premier ski destinations. This well-located asset is the only true extended-stay hotel product proximate to Breckenridge Ski Resort, one of the most visited ski mountains in North America,” Mike Wilbert, managing director, Mission Hill Hospitality said in a statement. “The acquisition highlights our strategy of acquiring high-quality select service and extended-stay hotels in high-barrier markets with strong fundamentals. Less than a 90-minute drive from Denver, the hotel offers exceptional Rocky Mountain views, easy walking distance to the ski lifts and convenient access to the bustling downtown area of Breckenridge.”
Opened in 2016, the Residence Inn Breckenridge is among the area’s newer hotels. The hotel is located in the Historic District of downtown Breckenridge adjacent to the city's shopping and entertainment scene, which features over 75 dining choices and 160 shops. The Residence Inn Breckenridge is located a short walk from QuickSilver Super 6 Chair Lift at Breckenridge Ski Resort and is serviced by the local ski area shuttle.