ASPEN — The Hotel Jerome will not be sold in a foreclosure auction because of a settlement made between the downtown landmark’s owner and lender, according to an announcement Wednesday.
Terms of the settlement, reached last week, are confidential, said a spokeswoman for the Jerome’s owner and RockResorts, the Broomfield-based concern that runs the 94-room hotel.
Brandin Carlin, general manager of the Jerome, said he planned to announce the news to his staff Wednesday night. The Jerome employs between 90 and 180 workers, depending on the time of the year.
Attorneys for LCP-Elysian Aspen Owner LLC, which bought the hotel for $52.2 million in May 2007, could not be reached.
The settlement comes after Chicago- based Jerome Property LLC, which holds the note on the property, began foreclosure efforts in September, claiming the owners owed $36.3 million on the Main Street property since the entire loan became due in June.
