Vail, CO – Guests wanting to stay at the Vail Cascade Resort & Spa during their ski vacation will need to wait until spring.

When the Laurus Corporation bought the Vail Cascade Resort & Spa last December, they promised a $35 million renovation to the 292-room ski-in/ski-out property, one of Vail’s largest, and a reopening this week in time for the 2016-17 ski season.

Now they say that they’ll need another three months and another $15 million.

After one delay until Jan. 20, first announced last month, the hotel’s new owner now says that additional delays in furniture and fixture delivery will prevent the hotel from reopening until March 1, when it will occupy a higher price echelon in the Colorado resort’s exclusive lodging market despite its sidelined location abutting I-70 in Cascade Village.

Laurus Corporation is a Los Angeles-based private real estate investment and development firm. Its other projects include hotels, retail and office space in Pittsburgh, Scottsdale and the Los Angeles area.