VAIL, Colo.— Oct. 14, 2016—The 285-room Vail Cascade Resort and Spa is in the midst of a spectacular $50+ million transformation (originally projected at $35 million) to be completed for the 2017 ski season. The Resort will open as a Starwood Hotels & Resort’s Affiliate and then transition to The Luxury Collection in 2017 following completion of the renovation. When completed, it will be segmented within the highest luxury tier in the recently merged Marriott-Starwood family of brands, along with the Ritz Carlton and St. Regis.
Originally slated for a projected mid-December opening, the project is refining its schedule and is planning on a launch date of January 20, 2017, according to Phil Cyburt, CEO of Laurus Corporation, the ownership group of the Vail Cascade Resort and Spa.
“We have been on a fast track creating this magnificent luxury property” said Cyburt. “The reality is that the delivery schedule of furniture, fixtures and equipment—the finishing touches— has been delayed. We will not sacrifice quality for bookings or revenues. Our goal is to deliver the superior standards to our guests that they have become accustomed to from a luxury property. There is no doubt that we will be one of the most extraordinary luxury ski-in, ski-out resorts within the Vail Valley.”
Included in the renovation plans is a complete renewal of the guest rooms, creation of a new fine dining restaurant, a vibrant new lounge and bar area featuring live music, a luxury ski concierge and valet and new retail outlets.
“We have a large number of reservations on the books for the upcoming early ski season,” said John Garth, Area Managing Director for the Vail Cascade Resort & Spa. “We are working with other Starwood/Marriott properties, as well as local Vail properties, to accommodate our guests and groups to ensure their vacations and event conflicts are resolved. Further, the ownership group is committed to our efforts to attract and retain good talent and will continue to work to do so.”
“We are confident that the wait will be worth it, and we look forward to welcoming everyone to the resort in January 2017.”
Laurus Corporation, a private real estate investment and development firm, acquired the property in January and immediately set forth an extensive renovation and redesign plan to position the property as a luxury resort. Starwood Hotels & Resorts’ and Destination Hotels’ teams will continue to work in the coming months to complete the resort. 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 in the process of actively calling each guest with reservation conflicts for resolution. Guests with questions regarding their stay in the interim may contact guestsupport@vailcascaderesort.com or call 800-420-2424 as well.
About Vail Cascade Resort & Spa
Vail Cascade is a creek-side, ski-in/ski-out base camp to the very best of Colorado — in every season. With the finest features of an alpine village, the resort nurtures guests with a wide expanse of natural beauty; Vail’s most comprehensive conference facility; an incomparable spa and fitness center; creative culinary options; and a wide variety of accommodation offerings, including condominiums ideal for extended stays. Along with every amenity necessary to make the most of each stay, guests enjoy engaging experiences delivered by a team whose true passion is to serve and share the Colorado they love in the most genuine and meaningful way.
About Destination Hotels
Destination Hotels (Destination) is a collection of luxury and upscale independent hotels, resorts and residences across the United States. Offering authentically-immersed and enriching experiences, each property is individual at heart, yet connected by a commitment to drawing upon the best of each location. Highly distinct, the Destination experience is always memorable and matchless; guests will feel the locale in a genuine way through each property and during the engaging moments cultivated both in and outside of them. Continuously growing with more than 45 properties from coast to coast, the award-winning portfolio features 20 renowned golf courses, 20 indigenous spas, and 110 exceptional bars and restaurants. Destination Hotels are true to our place; diverse by design. For more information, visit www.destinationhotels.com.
About Laurus Corporation
Laurus Corporation is a real estate investment and development company that specializes in hotels and resorts, office buildings, multifamily and mixed-use properties. With more than $1 billion in assets under management, Laurus employs an entrepreneurial investment strategy designed to consistently achieve attractive risk-adjusted returns by creating capital appreciation opportunities through repositioning, restructuring, re-development and intensive post acquisition asset management. The company was founded in 1999 by Andres and Jean Paul Szita, and is affiliated with Ethika Investments, LLC, a real estate private equity firm.www.lauruscorporation.com