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Park Hyatt Beaver Creek Listed For Sale, Could Cost Over $150M

The Denver Post is reporting that the Park Hyatt Beaver Creek Resort and Spa in Colorado has been listed for sale by the commercial real estate firm JLL on behalf of its current owner, a Chicago-based private equity group. Industry experts believe that the sale price could hit $150 million for the entire property.

The Park Hyatt contains 190 rooms, has ski-in/ski-out access, and the well-known, 30,000-square-foot Allegria Spa. The hotel also boasts an outdoor pool, hot tubs, dining services and a 19,000 square feet of retail space. It originally opened in 1989 and has undergone several renovations.

Interest in the property should run high in large part because development is so restricted at ski areas.

This is the second time in the space of two months that a major Vail Valley hotel complex has hit the market or been sold. In January, a Los Angeles-based private real estate investment firm bought the Vail Cascade Resort & Spa for $90 million with plans to spend about $35 million in upgrades before next winter.

· Park Hyatt Beaver Creek hits market, bids could exceed $150 million [Denver Post]