VAIL CASCADE RESORT AND SPA NEW OWNERSHIP GROUP INVESTS $35 MILLION TO TRANSFORM PROPERTY AND ENHANCE GUEST EXPERIENCE
LosAngelesbasedLaurusCorporationtoworkwithStarwoodLuxuryCollectionand Destination Hotels on Marketing and Branding and Operating
VAIL, Colo.— March 15, 2016—The 292-room Vail Cascade Resort and Spa will undergo a $35 million transformation to be completed in December 2016 for the 2016-2017 ski season and will join The Luxury Collection Hotels & Resorts, one of the world’s most exclusive luxury hospitality brands. Vail Cascade Resort & Spa will continue to be run and managed by Destination Hotels, the country’s largest owner and operator of independent hotels, resorts and residences. The property is one of Vail’s true ski-in/ski- out properties, located just steps from the Cascade Lift 20 on the western most part of the mountain.
Laurus Corporation, a private real estate investment and development firm, acquired the property in January, 2016 and immediately began an extensive renovation and redesign plan to position the property as a Five-Diamond resort. It will operate the project under the name Vail Hotel Partners, Ltd.
“We are on a fast track to creating a spectacular project,” said Philip Cyburt, CEO of Laurus Corporation. “The entire Laurus team is respectful of the magnificence of Vail as the country’s preeminent alpine resort. Our goal is to be effective stewards of this great property and to be engaged in and contributors to the Vail community.”
Included in the renovation plans will be a complete renewal of the guest rooms, interiors, suites and baths by Leo A. Daly Architecture and Design; all befitting the luxury standards of Starwood’s Luxury Collection brand. The property will see the creation of a new fine dining restaurant, vibrant new lounge and bar area featuring live music and new luxury retail outlets. A completely new guest-centric, therapeutic spa will be created, overlooking the adjacent Gore Creek as the terrace, pool area, decks and entry ways all exhibit complete renovations and dramatic design and utilization of the outdoor areas.
“We genuinely want to create a flagship property that reimagines the guest experience, dining concepts, retail space and après ski and evening programing-distinctive from anything currently in the Valley,” Cyburt said.
“In that the hotel will be largely closed for the summer and fall season, we are working with each and every employee to minimize the impact of the resort’s brief closure,” said John Garth, area managing director for the Vail Cascade Resort & Spa and Destination Hotels. “We are working with local entities for summer employment for our associates. We have had several job fairs, and are working with Destination Hotels’ network of 91 properties, the Laurus’s group of 13 properties as well as with the local hotel and business community to find interim solutions to our associates’ employment interruption. There is no doubt that our employees are our greatest asset; we respect the impact of this construction on them and will continue to mitigate this impact. Ideally, as we reopen, we will look forward to welcoming our associates and other area talent to join the team in what will be Vail’s newest luxury hotel.”
“The Aria Athletic Club and Spa will remain open throughout the construction process as the development team works to minimize disruption to members,” Garth said. “Likewise, the Vail Cascade Condominiums will remain open to welcome visitors to the Vail Valley throughout the renovation period.