Aspen's Hotel Jerome changes hands

Houstonian Dan Friedkin, through his hospitality investment company Iconic Properties, has purchased Aspen’s Hotel Jerome, an Auberge Resort, from Chicago-based DRW Real Estate. The purchase is part of Friedkin’s further expansion in the hospitality industry, following his 2013 investment in Auberge Resorts Collection, in which he became a majority owner and assumed the role of Chairman of the Board. Auberge will continue its management of the hotel.

No purchase price was given, but the Denver Business Journal reports that the hotel's actual value has been appraised at $34.9 million by the Pitkin County Assessor's Office.
The 93-room Jerome completed a top-to-bottom revitalization in 2012 under DRW’s ownership and direction and re-opened as an Auberge Resort.
For Friedkin, a longtime Colorado property holder, Aspen has special significance. “My family and I have enjoyed many years of visiting and owning residences in Aspen, and it’s a very special place to me personally,” he said. “I could not be more pleased to welcome Hotel Jerome into our investment portfolio. It has an enviable and storied history as a landmark American hotel, and it is most certainly one of the flagship properties of the Auberge Resorts Collection. I commend Don Wilson, the Managing Partner of DRW Real Estate, for bringing the Jerome back to glory, and I’m honored to take stewardship of the hotel ensuring it remains one of the great hotels of the United States.”
“We fully support Dan Friedkin and Auberge Resorts in this transition” said Wilson. “Under Dan’s stewardship and Auberge’s management, Hotel Jerome has a very bright future.”

As Chairman and CEO of The Friedkin Group, Friedkin manages investments across a diverse array of private businesses, including entertainment, aviation, wholesale and retail automotive distribution and high-end hospitality asset development.


Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.