Notable Resort Developments in Telluride

Over the past decade, Telluride has gained popularity as a secluded resort destination during both the summer and winter months. As a result, the luxury-resort segment is expanding in this market.
Katy Black, MAI Over the past decade, Telluride has gained popularity as a secluded resort destination during both the summer and winter months. However, when compared to other mountain resort destinations throughout the region, Telluride has few luxury-resort lodging options.

With the Madeline Telluride becoming an Auberge Resort in late 2017, followed by an extensive renovation and repositioning in 2021/22, the Madeline is essentially the only traditional, high-end lodging option in Telluride. The Town of Mountain Village, which is located within the Telluride Ski Resort, is seeking to improve Telluride’s position as a domestic and international travel destination. Thus, the town has approved two new luxury resorts in Mountain Village, including a Four Seasons. These developments are expected to change the landscape of Mountain Village, essentially tripling the amount of high-end hotel and resort-residential supply in this market.

As with any mountain destination resort, weather patterns and seasonality pose challenges to hotels from an operational perspective. Both Telluride and Mountain Village close down during the shoulder months, resulting in minimal demand levels during April, May, October, and November. This trend is not likely to change with the new resorts; however, increased inventory and new event space may narrow the shoulder seasons by attracting more demand from groups during those months.

Similar markets that also are experiencing growth in the luxury segment include Park City/Deer Valley, Utah, and Big Sky, Montana. Recent openings in these markets include the Pendry Park City and the Montage Big Sky, and construction is underway on the Grand Hyatt Mayflower Deer Valley and the One&Only Moonlight Basin in Big Sky. Within Colorado, while the ski resorts are generally built out, a site at the base of Aspen Mountain is slated for resort development (rumored as an Aman Resort). Additional projects within the ski areas of Colorado are relatively small or redevelopment-oriented, such as the recent conversion of the Westin Snowmass to the Viewline Resort Snowmass, Autograph Collection affiliate, and the conversion of the Vail Marriott to The Hythe, a Luxury Collection Resort.

Colorado continues to lead the way for mountain-resort offerings. The high-quality resort developments at the base of Telluride are expected to spark increased interest and enhance the overall attractiveness of Mountain Village/Telluride as a place to vacation, own a second home, or host a wedding or corporate event.

For more information on Telluride or other ski markets, please contact Katy Black or Ryan Mark with HVS Denver.
Katy Black, MAI, is the Managing Director and Leader of the consulting and valuation practice of the Denver office. She is an appraisal and consulting expert in the lodging markets throughout the Western U.S. Since joining HVS in 2013, Katy has gained diverse experience spanning limited-service motels, city-center hotels, luxury assets, golf resorts, and mixed-use developments, as well as resort-residential and rental-management programs. She specializes in high-end, complex resorts and has provided valuation and consulting services for gaming assets and large hotel portfolios. In addition, Katy has worked extensively on unique lodging properties, such as glamping resorts, casino hotels, hostels, and waterpark resorts. Katy graduated from the University of Delaware with an honors BS in Hotel, Restaurant, and Institutional Management. She also earned an MS in Accounting from the University of Akron. She is a state-certified general appraiser and a Designated Member of the Appraisal Institute (MAI). Contact Katy at (970) 305-2229 or [email protected].

About Ryan Mark

Ryan Mark, a Director with HVS Denver, brings first-hand experience, excellent communication and problemsolving skills, and attention to detail to conduct hotel market studies, feasibility studies, and valuations. Before joining HVS, Ryan worked in various roles in housekeeping and front office management at the 1,100-room Hyatt Regency Denver; he also acted as Assistant Manager of the hotel. Ryan earned his BS in Restaurant and Resort Management from Colorado State University. Contact Ryan at (303) 881-4762 or [email protected].


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