Rutland Herald
Anthony Edwards / Staff Photo
The Inn of the Six Mountains is located along the top of the Killington Access Road.
KILLINGTON — The Inn at Six Mountains has
been sold to a group of investors, including local businessman John
Kalish, for $3.3 million.
Kalish and the other investors closed on the purchase of the 104-unit condo hotel last week.
In addition to Kalish’s company, Killington Hospitality Group 1 LLC, the other major investor is Innisfree Hotels, a Florida-based resort company.
“The intention is to do some substantial renovations after the ski season ... and reposition this hotel into the best in the market as far as lodging is concerned,” Kalish said.
He said the new ownership group will invest between $2 million and $3 million to renovate the Killington Road property, which was built in the late 1980s.
He said all rooms will undergo renovations from top to bottom, including carpeting, tile floors, bathrooms and flat screen TVs. The lobby, restaurant, kitchen and the two pools will also get a makeover.
Kalish, who called the property a “diamond in the rough,” said his “intent is to bring it up to a first class standard.”
He said once the upgrades are complete there will be an opportunity to increase the restaurant, banquet and conference business.
He said work on the hotel will begin after the ski season and take about eight months to complete.
“We obviously want to get it repositioned for the fall and certainly for the (next) ski season,” Kalish said.
Because The Inn at Six Mountains was a condo hotel, he said the transaction took two years to complete.
“There was a substantial amount of time and effort to get all the owners on board to sell it and an agreed upon purchase price,” said Kalish, who owns other property in the area, including the former Churchill’s restaurant on Route 4 and eight acres near the Cortina Inn, both in Mendon.
Innisfree Hotels, the other major investor, will also manage the property.
Kalish said he brought in Innisfree as an investor because of their track record in operating resort properties.
Jill Thomas, Innisfree chief marketing officer, said the Killington hotel offered the company an opportunity to diversify its portfolio of properties.
“Most of our properties are beach resort properties and so we were looking to diversify into a different market that is still a part of a resort market,” Thomas said, “and a ski destination is a very attractive (option).
Innisfree has properties located primarily along the Gulf Coast of Florida, Mississippi and Alabama. It also operates a resort hotel in Traverse City, Mich.
“After seeing the commitment of Killington’s owners, Powdr Corp., to invest in the mountain and improve the village we decided to make an investment too,” Julian MacQueen, Innisfree founder and chief executive officer, said in a statement. “We look forward to other opportunities in the area with the same upside potential. The move from beach to mountain will mark new ground for Innisfree, while keeping in line with our mission of ‘creating fun, memorable experiences’ for travelers.”
Thomas said based on the results of a marketing research study, the Killington hotel will be rebranded to fit the clientele it hopes to attract.
With a ski village planned at the base of the mountain, Kalish, too, is bullish on the resort’s future.
“I think that it has only one direction to go and I think that’s up,” he said.
Based in Gulf Breeze, Fla., Innisfree takes its name from the William Butler Yeats’ poem, “The Lake Isle of Innisfree.”
Kalish and the other investors closed on the purchase of the 104-unit condo hotel last week.
In addition to Kalish’s company, Killington Hospitality Group 1 LLC, the other major investor is Innisfree Hotels, a Florida-based resort company.
“The intention is to do some substantial renovations after the ski season ... and reposition this hotel into the best in the market as far as lodging is concerned,” Kalish said.
He said the new ownership group will invest between $2 million and $3 million to renovate the Killington Road property, which was built in the late 1980s.
He said all rooms will undergo renovations from top to bottom, including carpeting, tile floors, bathrooms and flat screen TVs. The lobby, restaurant, kitchen and the two pools will also get a makeover.
Kalish, who called the property a “diamond in the rough,” said his “intent is to bring it up to a first class standard.”
He said once the upgrades are complete there will be an opportunity to increase the restaurant, banquet and conference business.
He said work on the hotel will begin after the ski season and take about eight months to complete.
“We obviously want to get it repositioned for the fall and certainly for the (next) ski season,” Kalish said.
Because The Inn at Six Mountains was a condo hotel, he said the transaction took two years to complete.
“There was a substantial amount of time and effort to get all the owners on board to sell it and an agreed upon purchase price,” said Kalish, who owns other property in the area, including the former Churchill’s restaurant on Route 4 and eight acres near the Cortina Inn, both in Mendon.
Innisfree Hotels, the other major investor, will also manage the property.
Kalish said he brought in Innisfree as an investor because of their track record in operating resort properties.
Jill Thomas, Innisfree chief marketing officer, said the Killington hotel offered the company an opportunity to diversify its portfolio of properties.
“Most of our properties are beach resort properties and so we were looking to diversify into a different market that is still a part of a resort market,” Thomas said, “and a ski destination is a very attractive (option).
Innisfree has properties located primarily along the Gulf Coast of Florida, Mississippi and Alabama. It also operates a resort hotel in Traverse City, Mich.
“After seeing the commitment of Killington’s owners, Powdr Corp., to invest in the mountain and improve the village we decided to make an investment too,” Julian MacQueen, Innisfree founder and chief executive officer, said in a statement. “We look forward to other opportunities in the area with the same upside potential. The move from beach to mountain will mark new ground for Innisfree, while keeping in line with our mission of ‘creating fun, memorable experiences’ for travelers.”
Thomas said based on the results of a marketing research study, the Killington hotel will be rebranded to fit the clientele it hopes to attract.
With a ski village planned at the base of the mountain, Kalish, too, is bullish on the resort’s future.
“I think that it has only one direction to go and I think that’s up,” he said.
Based in Gulf Breeze, Fla., Innisfree takes its name from the William Butler Yeats’ poem, “The Lake Isle of Innisfree.”
Comment: This is what the town needs more of: private investment! Notice how the resort's invvestment in the mountain and the ski village are cited as reasons for Innisfree's investment, not the efforts by the town, hay bales and such, or streetscapes, wayfinding, sidewalks and so on. If private investors are going to invest in the town its going to be because of what happens at the top of the mountain not the bottom!
No comments:
Post a Comment