$145M sale of tony Beaver Creek hotel/spa is completed

DENVER BUSINESS JOURNAL - The $145.5 million sale of one of the toniest hotel/spas in the Vail Valley has been completed.

Dallas-based Ashford Hospitality Prime Inc. said it's completed its purchase of the 190-room Park Hyatt Beaver Creek Resort & Spa in Beaver Creek, which works out to $766,000 per room.

"This property fits perfectly with our strategy of owning luxury hotels and resorts and further diversifies our portfolio by establishing a presence in the highly sought after Vail Valley market," said Richard Stockton, Ashford Prime's CEO, in a statement last month announcing the purchase.

On Monday, when announcing the deal had been completed, the company said "the property will continue to be operated as a Park Hyatt under a management agreement with Hyatt."

Read more at the Denver Business Journal: http://bit.ly/2oBzH4L

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