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Phoenix & Southwest  + Southwest  + Hospitality  | 

Ares Sells Stake in Colorado Resort for $270M

Ryman Hospitality Properties, Inc. and RIDA Development Corporation paid funds managed by Ares Management, L.P. $270 million to acquire Ares’ stake in the Gaylord Rockies Resort & Convention Center in Aurora, CO. The 1,500-room hotel and convention center is under construction. The transaction is expected to close by the end of 2018.

Construction commenced in 2016 on the property located less than 10 minutes from the Denver International Airport and 25 minutes from downtown Denver. It is expected to be the largest combined hotel and convention center in Colorado when the property begins operations in Q4 2018.

Ares Real Estate Group’s Andrew Holm says, “Our Gaylord Rockies investment continues Ares’ longstanding track record of developing best-in-class convention and resort properties across major markets in the United States, and our long-term strategy of being a meaningful investor in developments that meet the needs of local communities.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.