Aspen Business News

SNOWMASS VILLAGE-Westin has been named as the “flag” for the recently sold Silvertree Hotel, the resort’s marketing arm confirmed Thursday.

The slopeside hotel in Snowmass Village, along with the Silvertree Conference Center and Wildwood Lodge, were sold in June for $42 million to David Wasserman, 52, the managing partner for this Starwood Capital Group/Wasserman Real Estate Capital Group joint venture that operates under the name Silvertree Prop.

The Burwell family had owned the two hotels, both of which were original Snowmass lodges, since 1985. That’s the same year the town, in partnership with the Snowmass Resort Association, completed construction on the conference center.

“It’s definitely official that it’s going to be the Westin Snowmass Resort,” Aspen attorney Joe Krabacher confirmed this week. “Westin has come full circle.”

Krabacher was referring to the fact that Snowmass’ Viceroy Hotel was also slated to become a Westin; to introduce the brand to the community back in the mid-2000s, Westin executives once threw a lavish party at the base of Assay Hill that featured elaborate ice sculptures, free flowing champagne and unlimited bowls of fresh shellfish.

But during more sober moments, failed negotiations over the price of becoming a  Westin in order to use of its name, training and access to its reservations system kept the deal from being consummated by the developer, which opted instead to hang the Viceroy flag on the then-new Base Village property.

Flash forward to 2011 and the hotel group, operating as Silvertree Prop, chose Westin over another finalist, which was believed to be the Hyatt. That wasn’t a huge surprise considering that the Silvertree’s financing partner, Starwood Capital, was once an investor in Starwood Hotels and Resorts, of which Westin is its most popular brand.

But according to its website, “Starwood Capital ended its investment in Starwood Hotels in 2000.”

Big plans

An extensive interior remodel is planned for the 260-room Silvertree/Westin Snowmass– to take place between next April and the start of the 2011/2012 ski season – that could infuse more than $20 million into a property most agree needs a facelift.

“This is an extremely aggressive timeline yet getting it done quickly will move us to a better place sooner,” according to information provided in a Snowmass Tourism newsletter.

The start date is contingent upon the necessary approvals and permits being obtained by the Town of Snowmass Village. Oz Architecture has been hired to complete the remodel. The Denver-based architectural firm also designed several of the structures in Base Village, including the Hayden building.

The Wildwood, meanwhile, will be redecorated to take on a “boutique” personality of its own, focusing on developing a ski lodge charm while still remaining an affordable yet convenient option for travelers.

The conference center will be closed only for a short span, during April and May 2012, as it is “refreshed.”

The hotel closure could provide more challenges. Group business that has already booked the Silvertree during its planned closure will be relocated to other Snowmass Village properties, managing partner David Wasserman told Aspen Business Journal earlier this summer.

While there will only be one local hotel called Westin, both the former Silvertree and Wildwood will be booked through Westin’s central reservation system, according to Joe Krabacher.

About the Westin flag, Snowmass Tourism Director Susan Hamley said this week that “I’m most thrilled about the brand’s marketing strength and reach which will likely extend beyond what Snowmass Tourism and our stakeholders combined can achieve.”

She added: “This new 3-1/2 star brand hotel and new unique boutique lets us now claim even more diverse options of types of lodging, from quaint inns to family friendly condos to full service hotels and vacation homes.”