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The pool at The Little Nell in Aspen , Colorado |
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The Little Nell is about to play on a larger stage . Owners of the iconic Aspen , Colorado , hotel are parlaying its reputation , along with that its less famous sibling , Limelight , into a beefier portfolio .
Aspen Skiing Company , owned by Chicago ’ s Crown family , recently formed The Little Nell Hotel Group to seek acquisition and development opportunities for the brands .
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It ’ s for two reasons , says Alinio Azevedo , group managing director and chief operating officer : The family views this as an opportune time to use these brands as a springboard for growth , and the company wants to be ready to run when market conditions improve .
“ We understand where we are in the cycle ,” he adds . “ We ’ re not naïve about the costs right now and
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where things are trading . But we believe that starting this process now will put us in a very good position to act quickly when the market cycle turns and we start to see more opportunities .” For now , the family will fund expansion and retain ownership and management of the hotels .
The group ’ s portfolio consists of the flagship property , a
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92-room luxury hotel ; and Limelight properties from 100 to 150 rooms in Aspen and Snowmass , Colorado , and Sun Valley , Idaho . The company also manages Residences at The Little Nell , a vacation ownership development . Azevedo wants to double the size over the next five years in selective locations – in and out of the U . S . – that attract guests willing |
to shell out US $ 1,000 or more a night .
Development of the 4-star Limelight , with rates of about US $ 300 to US $ 400 , will focus on North American “ non-ski ” destinations that attract adventure-loving couples and families . The brand positions itself as a community living room , and properties have larger rooms and storage for sports gear .— Megan Rowe
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