Categorized | Destinations

Starwood Sells St. Regis Aspen…

Posted on 15 October 2010

Starwood Hotels & Resorts has sold the 179-room St. Regis Aspen for $70 million to 315 East Dean Associates Inc. Starwood will maintain a 50-year management agreement and continue to operate the resort under its St. Regis flag. We hear that guest service and hotel operations will continue uninterrupted.

 

In addition to the purchase, the new owner has committed to a major renovation of the resort, including the refurbishment of all hotel guest rooms and public areas and incorporating the extensive courtyard space into dining outlets for year-round offerings, including enhanced apres-ski use.

 

Simon Turner, president of global development, Starwood Hotels & Resorts, says the sale was “illustrative” of Starwood’s continued plan of divesting owned real estate and becoming more “asset light.” 

 

The St. Regis Aspen Resort is situated between the mountain’s two primary base ski lifts and within walking distance to all of Aspen’s shops, restaurants and entertainment. The hotel is also just ten minutes from Aspen’s airport.

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