 This
90-room property, located in the heart of Aspen, is steps away from the
Silver Queen Gondola ski lift and popular boutique retail shops and restaurants.
The resort recently underwent a $2 million renovation, which has already
resulted in an increase in occupancy levels and room rates.
According to John Strauss, Vice President of Jones
Lang LaSalle Hotels, considerable repositioning upside exists. �Aspen
Club Lodge�s intimate setting, �ground zero� location and recent renovation
will enable the property to further penetrate its competitive market in
terms of average daily rate and occupancy. Furthermore, operating efficiencies,
branding and the potential to lease the restaurant and bar will result
in enhanced value opportunities for the new owner.�
Aspen is one of the most exclusive residential
and resort markets famous for celebrity residents, luxury shopping and
world-class skiing. It has become equally desirable as a summer destination
through its array of outdoor activities and festivals.
Aspen�s citywide hotel supply consists of 1,335
rooms -- 660 of which belong to the upscale market. The average daily room
rate (ADR) ranges from $125 for small inns to $450 for luxury resorts.
Jones Lang LaSalle Hotels, the world�s leading
hotel investment services group, provides clients with value-added investment
opportunities and advice. Its recent two-year success story includes the
sale of 13,994 hotel rooms to the value of US$1.4 billion in 48 cities
and advisory expertise for 173,021 rooms to the value of US$32.6 billion
across 343 cities. Jones Lang LaSalle Hotels� services include transactions,
mergers and acquisitions, financial advice and capital raising, valuation
and appraisal, asset management, strategic planning, operator assessment
and selection and industry research. Jones Lang LaSalle (NYSE: JLL)
is the world�s leading real estate services and investment management firm,
operating across more than 100 key markets on five continents. |
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Northridge Capital, Inc.
and Kimpton Hotel and Restaurant Group, LLC announce a strategic partnership
SAN FRANCISCO, MARCH 29, 2001 � Northridge Capital,
Inc., an asset management firm based in Washington D.C., purchased the
hotel on behalf of its principals on March 23, 2001.
�Kimpton Group has a refreshing and creative approach
and offers exceptional expertise in operating boutique hotels,� said David
Jackson, president of Northridge Capital, Inc. �We strongly believe that
Aspen Club Lodge�s unsurpassable location combined with the Kimpton Group�s
unique ability to generate excitement and create identity at each of its
properties will benefit the hotel�s customers and employees, as well as
the Aspen community at large. Kimpton Group has an impressive track
record and we are confident that our partnership will be highly successful.�
Kimpton Group will manage all aspects of the Aspen Club
Lodge operations from guest services to marketing and sales. �Kimpton
Group looks forward to being part of the excitement associated with this
world premier mountain resort,� said Tom LaTour, president and chief executive
officer of the Kimpton Group. �We are pleased to be connected with
this intimate getaway and are eager to provide guests with an extraordinary
experience.�
�As one of a handful of significant hotels in Aspen, the
Aspen Club Lodge will continue to address the needs of the tourists and
commercial group business drawn to the physical beauty, recreational opportunities
and cultural amenities of this unique locale,� said David Jackson.
�With the appointment of the Kimpton Group, we will seek to improve the
overall guest experience at the Aspen Club Lodge.�
The Aspen Club Lodge is the second addition to Kimpton
Group�s resort collection. Kimpton Group also operates the
81-suite full-service, Summit Lodge in Whistler, B.C., North America�s
highest rated ski resort.
Kimpton Hotel & Restaurant Group, LLC is known for
its collection of stylish boutique hotels that are coupled with fine chef-driven
restaurants. Kimpton Group transforms older, often historic buildings,
into charming European-style accommodations. Kimpton Group comprises
34 hotels and 28 restaurants located in ten cities nationwide and in Canada.
Northridge Capital, Inc., is a Washington D.C. based asset
management firm responsible for managing investment assets of its owners,
a prominent Saudi Arabian family. These assets consist primarily
of U.S. commercial real estate, divided roughly equally between stabilized
income-producing assets and partnership interests in developmental projects.
The current investment focus of Northridge is on key urban markets with
strong economic fundamentals and favorable competitive conditions, and
includes adaptive re-use and redevelopment opportunities. |
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