COPPER MOUNTAIN, CO-Hard Rock International plans to develop a “lifestyle condominium-hotel” in a partnership with Intrawest Corp. at the base of the Copper Mountain ski resort in Summit County, 75 miles west of Denver. Preliminary plans call for a 320-room condominium-style hotel.

It would be the first Hard Rock hotel in a mountain resort. It also would be the first property developed under an agreement between Lifestar Hotels LLC–a 50-50 joint venture between Hard Rock International and Sol Melia Hotels–and Intrawest, the Canadian developer that owns Copper Mountain. Under the agreement, Lifestar would develop lifestyle Hard Rock Hotels at select Intrawest properties worldwide.

The hotel development is in such early stages, details aren’t yet firm, cautioned Drew Kramer, spokesman for the project. “Unfortunately, these plans are way too preliminary–and subject to Summit County approval–for us to be able to quantify the hotel in terms of rooms, square footage or financial impact/value at this point,” Kramer told GlobeSt.com late Thursday afternoon. Experts, however, tell GlobeSt.com that the development likely would cost about $300,000 to $400,000 per room, putting its cost from about $96 million to $128 million.

“I think it is phenomenal,” John Montgomery, principal of Denver-based Horwath Horizon Hospitality consulting/Montgomery & Associates tells GlobeSt.com. “For the last five to 10 years, Copper has really tried to find a way to revitalize itself, and I think they have finally really hit on it with the Hard Rock.”

Montgomery says Hard Rock could transform Copper into a Front Range ski resort to a destination resort, like Vail and Beaver Creek. “Hard Rock has this cachet and image that can’t be under-valued,” Montgomery tells GlobeSt.com. “I think if it had gone to Vail, for example, which already has a number of world-class hotels, the impact wouldn’t have been as great.”

Hard Rock Hotel Copper Mountain is part of a revised master-plan amendment currently being sought for the Copper Mountain Resort. Under the plan, construction on the new hotel could start as early as 2007. Under the provision of an amended master plan, the hotel would be Hard Rock’s first mountain resort property.

Trevor Horwell, vice president of Hard Rock Hotels says the company is “extremely excited” about the hotel and prospects of developing other hotels in partnership with Intrawest. “Our goal in 2006 is to continue to expand the Hard Rock brand with unique, new properties, including urban hotel and destination resorts,” Howell says. “In the process, we seek strategic partners, and Intrawest fits that paradigm perfectly.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.