The impending sale of Aspen's Mountain House Lodge, which was due to go down in a public auction with a $5.5 million minimum bid today on the county courtroom steps, has been stalled at least one week since the Breckenridge-based owners filed for Chapter 11. Yesterday when Curbed covered the impending sale, which was instigated by the property's fall into foreclosure this past November, it was mentioned that filing for bankruptcy that day would be the only option the current owners had to retain ownership of one of a dwindling number of affordable Aspen hotels.
If the court accepts the petition for bankruptcy, a much longer process would be initiated that would forestall or even avoid any potential sale. Aspen mayor Mick Ireland had called the upcoming sale of the Mountain House Lodge "another brick in the wall" in making Aspen less accessible to anyone but the über-wealthy, as any potential owner would be highly motivated to convert the hotel into private luxury condos. The Mountain House's average peak season nightly rate of $200 pales in comparison to the average nightly hotel rates in Aspen, which shot up 11% this February to $468/night.
· Mountain House foreclosure sale is delayed for now [Aspen Daily News]