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ASPEN, CO-Starwood Hotels & Resorts Worldwide Inc. has sold its high-end, 179-room St. Regis Aspen hotel at 315 E. Dean St. at the base of Aspen Mountain to 315 Dean Associates Inc. for $70 million, which translates to $391,000 per unit.

Starwood kept as manager of the hotel under a 50-year management deal and the hotel will continue to serve under the St. Regis brand. The new owner plans to invest $30 million for the renovation of the property. For the full story, go to Denver Business Journal.

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