Vail Cascade Resort sold, $35M-renovation project slated


The Vail Cascade Resort and Spa at the Vail ski resort has been sold and will undergo a $35-million renovation, according to the Denver Business Journal.

Los Angeles real estate developer Laurus Corp. bought the 292-room hotel from Lowe Enterprises. The purchase price wasn’t revealed but the Vail Daily said Eagle County records indicate the sale price was $53.3 million, although Laurus said the total sale price was approximately $90 million.

Laurus said it will redesign the resort, add new dining options, add new luxury retail outlets and valet ski services, redo the 45,000 square feet of meeting room, and refurbish the 78,000-square-foot athletic club. Improvements are expected to be completed in time for the 2016/2017 ski season, Laurus said.

“This is a unique opportunity for our investors to acquire a resort that would be nearly impossible to replicate from a cost and location perspective, one of the only true ski-in/ski-out resorts in a top destination market” said Andres Szita, chairman of Laurus, in a statement.

In November, Vail was ranked Colorado’s top ski area and the fifth best in the country, according to Forbes.

Suggested Articles

As well as acquiring a stake in the company, The Silverstone Cos. has also gained exclusive rights to development in Asia.

The real estate investment trust plans sell the InterContinental Buckhead Atlanta and Sofitel Washington DC Lafayette Square.

If the Barclay brothers sell the Ritz Hotel for the rumoured £800m to a consortium of Saudi Arabian families it will have increased in value 150 times