Affiliates of Northview Hotel Group and a fund managed by an affiliate of Apollo Global Management purchased the 110-room Hotel Madeline Telluride for an undisclosed sum from Crescent Hotels & Resorts.
Northview Hotel Group, Westport, Connecticut, will manage the ski-in, ski-out property. The purchase of Hotel Madeline Telluride marks the partnership’s fourth joint venture acquisition in the past 18 months.
The partnership plans to invest US$7 million to US$10 million in the short term, to upgrade the hotel’s common areas, re-concept the property and residence amenities, including spa and pool area, and complete significant improvements to the residences.
