RGP Partners acquires 2 Colorado resorts
RGP Partners, a private investment firm with offices in New Orleans and Aspen, Colorado has acquired two properties in Colorado with plans to renovate them.
The firm, alongside High Street Real Estate Partners and ACRON Real Estate Investments, acquired The Westin Snowmass Resort and Wildwood Snowmass from SilvertreePopco LLC, an affiliate of Starwood Capital Group and Wasserman Real Estate, which had owned the properties since June 2011.
Davidson Hotels & Resorts will manage the two properties, a news release said. As part of the transition, both properties will undergo renovations to guestrooms, F&B outlets and public spaces.
Prior to closing last week on the $70 million sale of three properties including the Westin Snowmass Hotel, the new ownership already had brought in a management company to replace the current one as it begins to rebrand the slopeside property.
Atlanta-based Davidson Hotels & Resorts about three weeks ago took the management reins at the 254-room, slopeside hotel, which has been run under the Westin flag and previously the management of Connecticut-based HEI Hotels & Resorts.
While the Westin flag is still flying, the new ownership plans to upgrade the hotel to a four-star property and have it join entrance into Marriott’s Autograph Collection, a division of luxury hotels.