Acron buys resort in the Rocky Mountains
Acron Group has acquired a resort of two hotels in the Aspen-Snowmass destination in the Rocky Mountains for its U.S. hospitality investment series.
The resort includes the Westin and Wildwood hotels with a combined 405 rooms, has been acquired "at a significant discount" to replacement costs, according to Acron, and offers stable existing cash flow. Forty million dollars is to be invested to transform the Westin hotel into an "Autograph Collection hotel by Marriott." The total investment is $134.7 million, he said. Investors who want to participate in Acron Aspen Snowmass Resort AG are promised an IRR of 16.0% per year by the company.
According to the real estate company, because of the Corona pandemic, mountain destinations with their hotel industry there have a strong advantage over the hotel industry in the centers of the United States. For example, sales prices of single-family homes in Aspen are up 50% over the same period last year, it said. Aspen-Snowmass is considered an exclusive winter and summer destination and is located at an altitude of over 2,500 meters in the Rocky Mountains. (ah)
