Mission Hill Hospitality Acquires Holiday Inn Steamboat
Acquisition marks Denver-based select service hotel investor’s first in Colorado
Mission Hill Hospitality, a leading select service and extended stay hotel investor, announced it has acquired the Holiday Inn Steamboat, a 117-key hotel in Steamboat Springs, Colorado. Terms of the deal are undisclosed.
This is the 26th property added to the Mission Hill Hospitality portfolio since the company was launched in March 2021, and its first in Colorado.
“This off-market acquisition underscores our strategic growth and geographic diversification of a high-quality portfolio of well-located select service and extended stay hotels, particularly in leisure-oriented markets with year-round demand,” said Greg Kennealey, CEO, Mission Hill Hospitality. “The Holiday Inn Steamboat Springs is just 1.5 miles from the world-renowned Steamboat ski resort, which is currently undergoing major investment and expansion that will position it as the second largest resort in Colorado and a world-class destination attracting year-round visitors.”
Located in the heart of the Rocky Mountains on U.S. Highway 40, the Holiday Inn Steamboat Springs is a short drive from the Steamboat ski resort, which is in the midst of a large-scale redevelopment and capital improvement program of its base area and terrain. New features at the reimagined base area include a skating rink, bars and restaurants, and new lifts. Upon completion, the new Wild Blue Gondola will be the longest gondola in North America, covering a 3.16-mile span, and the fastest 10-person gondola in the US. Steamboat offers 165 named trails, with the longest run measuring over three miles.
Additional nearby activities include Fish Creek Falls, one of the most popular photography locations, featuring hiking and snowshoeing trails that lead to the picturesque falls, Strawberry Park Hot Springs with 104-deree mineral water pools, as well as easy access to the area’s many mountain biking and hiking trails. In warmer months, visitors can enjoy golf at the Haymaker Golf Course, and kayaking or fishing on the Yampa and Elk Rivers. Downtown Steamboat, the heart of the local community year-round, offers a variety of shops, restaurants, spas, art galleries and museums.
The Holiday Inn Steamboat Springs is located minutes from the Yampa Valley Regional Airport, which offers nonstop flights from 16 major airports in the US, and hundreds of connecting flights. It is a 150-mile scenic drive from Denver.
About Mission Hill Hospitality
Mission Hill Hospitality invests in the select service and extended stay hotel sector. Founded in 2021, the Denver-based firm focuses on value-add and development projects that present significant opportunity given market and economic conditions.
Mission Hill Hospitality brings together a dedicated team of investment professionals with decades of extensive experience in lodging across product types and provides a wide range of expertise across functions including operations, asset management, acquisitions, development, and capital markets. For more information visit https://missionhill.com/.
About KSL Capital Partners, LLC
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates luxury and lifestyle hotels in coastal gateway and resort markets. The Company's 25 hotels totaling 3,811 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida, and California. The Company's common shares are traded on The New York Stock Exchange under the ticker "HT." For more information on the Company, and the Company's hotel portfolio, please visit the Company's website at www.kslcapital.com.