One of Beaver Creek’s marquee ski hotels is changing hands, with a price tag that matches the resort’s high-end reputation.
Braemar Hotels & Resorts has agreed to sell the Park Hyatt Beaver Creek Resort & Spa in Avon, Colorado, to an entity called Apres Owner LLC for $176 million. The ski-in/ski-out resort’s 193 rooms sit in the heart of Beaver Creek Village, and the transaction is expected to close in the second quarter of 2026, subject to customary conditions. The sale comes as the Dallas-based REIT continues to market its luxury portfolio to private buyers.
According to Braemar's press release, the company has already received a $6.5 million non-refundable earnest-money deposit and says it plans to use net proceeds from the deal to redeem its outstanding 4.50% convertible senior notes due in June 2026. Management called the sale a “significant milestone” in its ongoing strategic review and sales process, while also warning that several closing conditions still have to be met.
Portfolio sales and strategy
The Park Hyatt deal is the latest move in a process Braemar launched last August, when its board authorized a potential company sale and created a special committee to explore “strategic alternatives.” Industry reporting and company filings indicate the REIT’s portfolio, which includes nine resorts and five urban properties, has been quietly shopped to private buyers and that other assets have already been moved in recent months. Hotel Dive has a broader context for the sale process.
Balance sheet pressure
Braemar’s first-quarter results help explain the urgency. As of March 31, the company reported about $1.8 billion in total assets and roughly $1.1 billion of loans. That leverage profile is one reason the REIT is leaning on property sales to shore up its balance sheet.
In the same update, management calculated the Park Hyatt Beaver Creek transaction at a low-to-mid single-digit capitalization rate on trailing net operating income, a data point meant to show that investors are still hungry for top-shelf resort assets despite higher financing costs. For the full financial rundown, see Braemar's Q1 release.
What this means for Beaver Creek
Regulatory filings identify the buyer as Apres Owner LLC, though public information on the entity is limited so far. What is clear is the caliber of the real estate involved. The Park Hyatt is one of Beaver Creek’s flagship hotels, offering slopeside access, a full spa, and 193 guest rooms. Hyatt’s property page lists the resort’s address as 136 East Thomas Place in Beaver Creek. The purchaser is named in the SEC Form 8-K, while Hyatt details the hotel’s amenities and room count.
For local businesses and real estate watchers, the Park Hyatt sale is a signal that Braemar’s broader sales push could reshape who owns what across the Vail Valley, and that single-asset transactions may be the tool of choice for handling near-term debt maturities. The transaction is expected to close in May, subject to customary conditions, and outlets including the Dallas Business Journal are tracking what the REIT does next as it works through its capital plan.
