Snowmass Village, CO – Starwood Capital Group and Starwood Hotels & Resorts Worldwide, Inc. announced today that they have entered into new management agreements for the Silvertree Hotel and Conference Center and the Wildwood Lodge, both in Snowmass Village. Starwood Capital Group also announced plans to significantly renovate both hotels to broaden their appeal as destination properties in this Colorado ski resort community.
Renovations, which are slated to begin in April 2012, will include significant improvements to the existing structures of the buildings, all rooms, meeting space and some public areas. Both hotels will re-open in time for the 2012-13 ski season. The renovations will feature little to no disruption to the Silvertree conference center. Upon reopening, Silvertree Hotel will operate under Starwood Hotels’ Westin brand, while Wildwood Lodge will remain under an independent flag. The two hotels will be managed by Starwood Hotels & Resorts.
Both locations, which were built in phases beginning in 1967, are owned by a joint venture between Starwood Capital Group and Wasserman Real Estate, which purchased the properties in June.
“The planned renovations of both Silvertree and Wildwood and our new partnership with Starwood Hotels & Resorts will not only broaden the global appeal of these two magnificent locations, but it will bring one of the world’s strongest international booking engines to both properties,” said Suril Shah, Vice President of Acquisitions of Starwood Capital Group. “We would like to express our gratitude to the city of Snowmass and its elected officials for their support and partnership as we look to reposition both properties. We are looking forward to delivering a world-class lodging experience to our guests for years to come.”
“This is an exciting time for both the residents and guests of our town,” said Russ Forrest, Snowmass Village Town Manager. “Conference services, managed by the Silvertree, are an extremely important operation in this town, and will continue to be with the redevelopment. I am confident that Starwood Hotels and the Starwood Capital Group will carry on the same commitment to, and pride in, this community as the Silvertree and Wildwood. We are looking forward to working closely with them in the future.”