Madeline Hotel And Residences

In August 2014, affiliates of Northview Hotel Group, in partnership with a fund managed by Apollo Global Management, LLC (NYSE:APO), acquired Madeline Hotel and Residences in Telluride, CO. Madeline Hotel and Residences is a four-diamond rated, ski-in ski-out property in the heart of the Town of Mountain Village in Telluride, featuring 84 hotel guestrooms, 70 residences, 10 employee condominium residences, two restaurants, 4,000 square feet of meeting space, 15,700 square feet of retail space, and multiple world-class amenities including The Spa at Hotel Madeline.

The property opened in February 2009 after ten years of planning as the Capella Telluride, former Ritz-Carlton COO Horst Schulze’s “six-star” brand, but struggled to perform during the recent economic downturn and was ultimately acquired by the lender through foreclosure.  Northview acquired the REO property with the intention of firmly establishing the Hotel as the premier property in Telluride, and one of the top mountain properties in the U.S.  To this end, Northview executed a strategic capital improvement plan to: (i) upgrade the Hotel common areas, (ii) re-concept the Hotel amenities, including The Spa and pool area, and (iii) complete significant improvements to the residences. The condominium residences were released for sale during the 2014/15 winter season and were substantially sold out by Northview’s sale of the hotel in December 2017.