Steamboat Hotel Goes to Mission Hill Hospitality
Mission Hill Hospitality paid $26 million for the 117-key Holiday Inn property in Steamboat Springs, Colorado. The seller was longtime owner, Scott Marr.
Mission Hill’s Greg Kennealey liked that the hotel was not just for seasonal visitors, “We like geographic diversification for our high-quality portfolio of well-located select service and extended stay hotels, particularly in leisure-oriented markets with year-round demand.” The acquisition includes the hotel’s on-site restaurant, Rex’s American Grill and Bar, which will undergo a rebranding.
The hotel is a little over a mile away from the Steamboat Springs ski area. The ski area is undergoing a multi-million dollar expansion which will make it the second largest ski resort in the state.
Holiday Inn Steamboat is the 26th property added to the Mission Hill Hospitality portfolio since its launch in March 2021.