Lionheart plans hotel, condos at Peak 8 base

The buyer plans to develop a branded full-service hotel with 150 keys to be managed by Vail Resorts’ hospitality division, approximately 35 wholly owned residential condominiums, a spa and fitness center, a restaurant, bar and lounge, meeting space and parking. 

A Miami-based global real estate development and investment firm purchased a 4.1-acre parcel at the base of Peak 8 in Breckenridge.

The buyer plans to develop a branded full-service hotel with 150 keys to be managed by Vail Resorts’ hospitality division, approximately 35 wholly owned residential condominiums, a spa and fitness center, a restaurant, bar and lounge, meeting space and parking.

Vail Resorts sold the parcel, adjacent to One Ski Hill Place, to Lionheart Capital for $10.9 million, according to public records.

“We’re pleased to be selling the East Peak 8 site to a prominent global developer with extensive experience in luxury hospitality and branded residences, and are looking forward to seeing Lionheart’s vision for the parcel come to life,” James O’Donnell, executive vice president of hospitality, retail and real estate at Vail Resorts, said in a release regarding the land sale. “The development will be a true asset to locals and guests from around the world.”

“Following Lionheart’s tradition of embracing the communities where we do business, we intend to keep working with the town to bring a very special project to Breckenridge,” added Ricardo Dunin, founding partner of Lionheart Capital. “Having developed properties such as Le Sereno Hotel in St. Barths and two Ritz-Carlton projects in South Florida, we are thrilled to be adding a mountain resort to our portfolio. We are also confident that Vail Resorts’ expertise in managing properties in mountain destinations will be a great benefit to guests of the hotel and our condominium owners.”

The East Peak 8 project, a skiin, ski-out site, is envisioned as a part of the Breckenridge Peaks 7 and 8 Master Plan. The redevelopment of the site from what currently includes the Breckenridge Ski Resort administrative building will complete the series of developments and improvements at Peak 8.

Breckenridge Ski Resort boasts five peaks, 2,908 acres, four terrain parks, a 22-foot Superpipe, 11 bowls and North America’s highest chairlift.

Additional details regarding the development will be announced in the coming weeks.

Featured in CREJ’s May 15-June 4, 2019, issue

Jennifer Hayes has been an editor with the CREJ since 2000. Jennifer covers multifamily and retail news in the Denver metro area plus all property types in Colorado Springs and Southern Colorado. She also covers the finance market as well as solicits bylines articles and is editor of the Health Care Properties Quarterly. Before joining…