The owner of Colorado Springs’ upscale Broadmoor Hotel & Resort is selling Aspen’s landmark Hotel Jerome less than two years after purchasing it, citing frustration with the city over $45 million in planned renovations.
The new buyer’s name and the purchase price were not disclosed Tuesday, but the deal is expected to close in the next 60 days, Broadmoor president and chief executive Stephen Bartolin said.
“We had some nice plans for the property, and we’re very fond of the hotel staff,” he said. “But, at the end of the day, it wasn’t the right fit for us.”
Oklahoma Publishing Co. of Oklahoma City, which has owned the Broadmoor since 1988, bought the Hotel Jerome in June 2005 for $33.7 million, according to Pitkin County records.
It originally planned $45 million worth of renovations at the luxury hotel, including the addition of a fourth floor. The City Council eventually approved a scaled-down version of the original plan.
Aspen real-estate broker Joshua Saslove confirmed he is handling the deal but also declined to name the buyer.
Due to the change in ownership, the historic hotel will now remain open for business this summer, instead of closing for eight months. The hotel will close from April 2 until May 25.
Originally opened in 1889, the 92-room hotel employs about 175 people.
Another historic Colorado lodge, the Beaumont Hotel in Ouray, also is on the market. Originally completed in 1886, it is listed for $8 million.
