Avison Young brokers sale of iconic boutique resort property, Fall River Village Resort in Estes Park, CO
January 6, 2022
Denver, CO – Avison Young has brokered the sale of Fall River Village Resort, an iconic 89-unit boutique mountain resort and SkyView wedding venue located at 200 Filbey Court in Estes Park, CO.
Avison Young’s Chris Kilcullen, Senior Hospitality Broker out of the Denver office represented the sellers, Paul Pewterbaugh and Darren Crystal, who developed the property. The buyer was Grand Heritage Holdings, which also owns the Stanley Hotel in Estes Park. The new ownership plans to rename the property Fall River Village by The Stanley. The property will be a complement to the nearby Stanley Hotel which is in the process of developing the Stanley Film Center. The two hospitality venues combined will provide more than 600 beds for visitors of events, getaways, weddings and the film center once it is completed.
Situated on eight acres, Fall River Village Resort is located along the banks of the Fall River and a short drive to Rocky Mountain National Park. The site includes several hundred yards of river frontage and incredible Rocky Mountain views and is also just a few hundred yards from downtown shopping and dining via the famed River Walk. The asset features a state-of-the-art modern event venue, heated pool, four hot tubs, several fire pit and fireplace areas, and game and dining areas for gatherings. Every high-end unit features a mountain modern design, fully equipped kitchen, fireplace, washer/dryer, and outdoor patio or deck.
The SkyView wedding venue is the stunning modern centerpiece at the resort. The venue has rapidly become a local and regional landmark and a popular wedding venue. It consists of a three-story structure with a rooftop deck for events with a wet bar, bride’s room, and bathrooms, a main-level with a 125-person reception room with a wrap-around deck, 40 feet of retractable window wall for breathtaking views, a full dance floor, and a full serving kitchen. There is also a lower level for storage with a workshop, office for the venue staff, and additional space.
“Mountain resort properties in Colorado have seen a tremendous rebound through Covid and are performing better than 2019,” said Kilcullen. “This rebound has brought new guests to Estes Park to experience the quaint charm of the town and breathtaking views of the Rocky Mountain National Park.”
He added, “Fall River Village Resort is the premier resort in Estes Park and we had a number of institutional buyers competing for the asset. This is the largest transaction in Estes Park history, further putting this market on the map as a luxury destination as development projects continue to attract new capital.”
"This is a tremendous transaction for our Denver team and we are enthusiastic about the thriving hospitality market and the impressive post-pandemic recovery,” said Marcy Moneypenny Principal and Managing Director for the Denver office.
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