{"id":1004169157,"date":"2017-03-14T02:33:56","date_gmt":"2017-03-14T10:33:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004169157"},"modified":"2022-12-08T17:23:19","modified_gmt":"2022-12-09T01:23:19","slug":"ashford-snags-park-hyatt-beaver-creek-for-146m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ashford-snags-park-hyatt-beaver-creek-for-146m\/","title":{"rendered":"Ashford Snags Park Hyatt Beaver Creek for $146M"},"content":{"rendered":"

By IvyLee Rosario<\/em><\/p>\n

Beaver Creek, Colo.<\/strong>\u2014Ashford Hospitality Prime Inc. has\u00a0acquired the Park Hyatt Beaver Creek Resort & Spa in Beaver Creek for $145.5 million.\u00a0The company plans to use the proceeds from its recently completed public offerings to fund the acquisition and intends to finance the property with approximately $68 million of non-recourse mortgage debt.<\/p>\n

\"Park<\/a>

Park Hyatt Beaver Creek Resort & Spa<\/p><\/div>\n

Built in 1989, the 190-key hotel features a 30,000-square-foot spa, four food and beverage options, 20,000 square feet of meeting space, a heated outdoor pool, a 24-hour fitness club, ski valet service and outdoor fire pits. In addition, the resort\u00a0offers two golf courses, a tennis center and 18,800 square feet of retail space.\u00a0The property underwent\u00a0$7.5 million in capital improvements over the past few years.<\/p>\n

Beyond the hotel, guests have easy access to Beaver Creek’s amenities including restaurants\u00a0and shops, the Vilar Performing Arts Center and an outdoor ice skating ring.<\/p>\n

“The acquisition of the iconic Park Hyatt Beaver Creek Resort & Spa is an opportunity for us to acquire a premier resort with the best location in the very attractive Beaver Creek market,” said Richard Stockton, CEO of Ashford Hospitality Prime, in prepared remarks. “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.”<\/p>\n

Image courtesy of Park Hyatt Beaver Creek Resort & Spa<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The acquisition falls in line with the company’s strategy of establishing a presence in the Vail Valley market.<\/p>\n","protected":false},"author":746,"featured_media":1004169165,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,21742,15],"tags":[34265,33185],"class_list":["post-1004169157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-latest","category-west","tag-ashford-hospitality-prime","tag-hyatt"],"acf":[],"yoast_head":"\nAshford Snags Park Hyatt Beaver Creek for $146M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/ashford-snags-park-hyatt-beaver-creek-for-146m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ashford Snags Park Hyatt Beaver Creek for $146M\" \/>\n<meta property=\"og:description\" content=\"The acquisition falls in line with the company's strategy of establishing a presence in the Vail Valley market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ashford-snags-park-hyatt-beaver-creek-for-146m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-14T10:33:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:23:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Park-Hyatt-Beaver-Creek-Resort-Spa.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ashford-snags-park-hyatt-beaver-creek-for-146m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/ashford-snags-park-hyatt-beaver-creek-for-146m\/\",\"name\":\"Ashford Snags Park Hyatt Beaver Creek for $146M - 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