Monthly Archives: January 2016

Laurus Corporation Announces Acquisition of Vail Cascade Resort and Spa

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Vail Cascade Resort & Spa has changed hands. The purchase price for the 292-room property was not disclosed. Laurus Corporation, a private real estate investment and development firm, announced today that it has acquired Vail Cascade Resort and Spa, one of Vail’s only true ski-in/ski-out hotels. Beginning April 2016, the 292-room Vail Cascade Resort and Spa will undergo a $35 million transformation to be completed for the 2016/17 ski season as it joins The Luxury Collection® Hotels & Resorts, one of the world’s most exclusive luxury hospitality brands. Destination Hotels, the largest owner and operator of independent hotels, resorts and residences in the United States, will continue to manage and operate the property. “This is a unique opportunity for our investors to acquire a resort that would be nearly impossible to replicate from a cost and location perspective, one of the only true ski-in/ski-out resorts in a top destination market,” said Andres Szita, Chairman of Laurus Corporation. “During the past six years, market ADR increased 32.8%, yet despite this strong rate growth, market occupancy improved nearly 10 points. A tremendous opportunity exists for this asset to be repositioned to a higher tier market segment.” Eagle County is home to Vail…

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