Posted on: October 3, 2011
Auberge to manage Aspen’s Hotel Jerome
Auberge Resorts will assume management of the Hotel Jerome in Aspen, Colo., on Nov. 1, replacing RockResorts.
This page is protected by Copyright laws. Do Not Copy. Purchase Reprint
The landmark hotel is owned by Jerome Ventures LLC, an entity led by Chicago developers Fred Latsko, Mark Hunt and Don Wilson Jr.
Jerome Ventures bought the property’s mortgage from Lehman Brothers in August 2009, nearly a year after Lehman filed for the largest bankruptcy in U.S. history.
After acquiring the mortgage, Jerome Ventures started foreclosure proceedings on the hotel’s owner, LCP-Elysian Aspen Owner LLC, an entity led by Chicago developer David Pisor. After a brief dispute over loan repayment, LCP-Elysian stood down and ceded ownership to Jerome Ventures.
The Hotel Jerome is on the National Register of Historic Places. It was built in 1889 during the silver-mining rush in Colorado.
"We are delighted about the opportunity to manage the Hotel Jerome, and we're honored to play a role in the operation of this legendary hotel," said Mark Harmon, CEO of Auberge Resorts. "We recognize the historic quality of the Jerome and the important role it plays as a gathering place for locals and for guests from around the world."
The Hotel Jerome will be Auberge’s third project in the Colorado Rockies. Last January, the Auberge Residences at Element 52 opened in Telluride, Colo. Last March, Auberge formed a partnership with the Aspen Club & Spa to design and develop the Aspen Club and Auberge Residences.