 ATLANTA,
Georgia, May 17, 2005 - Thompson Calhoun Fair, LLC, an Atlanta-based hotel
real estate firm, announced today that it advised Printup Hotel Associates,
Ltd. in the disposition of The Hotel Telluride in Telluride, Colorado.
The Hotel Telluride is located at 199 North Cornet Street in the City of
Telluride overlooking the San Juan Mountains. Hotel Telluride is
a unique luxury property with 58 oversized guest rooms. Guest amenities
include the hotel's upscale tavern, the Bistro, a day spa and an outdoor
hot tub. In addition, the property includes a one-bedroom and a two-bedroom
condominium, fully furnished and with full kitchens. The property
was sold to Hotel Telluride Properties, LLC for an undisclosed amount.
.
| Mark Fair, a principal of the firm
stated, �The property opened in 2001 and has operated as an independent
affiliated with Small Hotels of the World. The purchaser will convert
the hotel into a condo hotel and zoning has been approved. Telluride
is one of the highest barriers to entry markets in the U.S. as there are
simply no remaining developable sites. The residential market has
appreciated over 10% annually for the last five years. The acquisition
price represents approximately $400 per rentable square foot.
About Thompson Calhoun Fair
Thompson Calhoun Fair was formed to focus on servicing the transaction
needs |
From the left - Al Calhoun, Mark G. Fair (sitting),
and H. Keith Thompson |
of clients in all segments of the hotel industry. Founded in 2000,
Thompson Calhoun Fair is headquartered in Atlanta and is national in scope.
Thompson Calhoun Fair can be found on the Web at www.tcfhotels.com. |