Acquisitions & Hotel Openings

Urgo Hotels & Resorts and Triumph Development Joint Venture Opens Residence Inn by Marriott Breckenridge

BETHESDA, MD. / BRECKENRIDGE, CO. December 22, 2016 – A joint venture between Urgo Hotels & Resorts and Triumph Development, LLC, today announced the opening of the 129–room Residence Inn by Marriott Breckenridge in Colo. The joint venture developed and owns the hotel, with Urgo managing the property going forward.

“This hotel marks the first Marriott-branded hotel in Breckenridge, one of the nation’s most popular ski destinations, as well as the market’s first new hotel in over two decades,” said Mathew Jalazo, vice president of development at Urgo. “The property further benefits from its close proximity to the Denver International Airport, eliminating the need to travel through Vail Pass.

“We remain very bullish on Breckenridge, a year-round resort area that attracts any number of outdoors people, including skiers, golfers, bikers, hikers, mountaineers, fishers and kayakers. The town regularly ranks as one of the two most visited ski destinations in the United States and looks primed for continued growth.”

Located across from the Village Base Area and QuickSilver Chair Lift, the hotel is situated in the heart of downtown Breckenridge adjacent to the city's shopping and entertainment with more than 75 dining options and over 160 shops within walking distance. The hotel was designed to showcase the surrounding mountains. Two-story, floor-to-ceiling windows open the lobby to breathtaking vistas, while the lobby bar features comfortable seating areas opening onto an outdoor terrace with stunning views of the Tenmile Mountain Range. A year-round, heated, outdoor pool and patio also provide remarkable outlooks over the town and the surrounding valley.

The hotel offers ski lockers and a ski valet service that provides seamless ski drop off at the hotel and pick up at mountainside. All custom-designed suites offer full kitchenettes and sitting areas, creating comfortable accommodations for both overnight guests and longer-term visitors to the resort. The hotel appeals to both leisure travelers and business groups and offers approximately 1700-sqare feet of meeting space for meetings and conferences.

“The addition of the Residence Inn by Marriott Breckenridge closes out a record development year for Urgo,” Jalazo added. “In 2016, we opened seven new development projects which translates into 28 percent year-over-year portfolio growth. 2017 looks equally promising, with a pipeline of six properties under construction and five in the development phase.”

About Triumph Development, LLC

Triumph Development, LLC, a division of Triumph Partners, was founded in 2002 in Bethesda, Md., and opened an office in Vail, Colo. in 2006. The company focuses on resort and commercial and residential real estate development. Triumph Partners is a full-service real estate company providing diversified commercial, residential and resort real estate development, asset management, consulting, property management, and commercial and residential brokerage. Additional information may be found at www.triumphdev.com.

About Urgo Hotels & Resorts

Urgo Hotels & Resorts is a Bethesda, Md.-based hotel company that develops, owns and/or operates distinctive and unique hotels and resorts in major markets and resort locations in the U.S., Canada and the Caribbean. The current portfolio is comprised 45 hotels with approximately 6, 660 rooms, including six hotels under construction totaling 810 rooms and five hotels under development with 874 rooms. The company develops, builds and operates for its own account, as well as provides third-party management and asset management services. Additional information about the company may be found at www.urgohotels.com.

Contact:
Sonia Abdulbaki
sonia@dalygray.com
703-435-6293

Coming Up In The February Online Hotel Business Review




Feature Focus
Social Media: Interacting with the Hotel Customer
Consider these astonishing numbers: 1.49 billion active monthly Facebook users. 1.1 billion active monthly YouTube users. 320 million active monthly Twitter users and nearly 400 million registered users on LinkedIn. 400 million active monthly Instagram users and 200 million active Google+ users. The power and reach of social media is an awesome force and it has transformed how hotels interact with their customers. In the past year, social media advertising spending increased 33.5% to nearly $24 billion dollars. Social networks are being utilized by hotels to reach more visitors, expand brand awareness, enhance brand reputation and to establish more direct and personal communication with their customers. Savvy hotel operators are adopting a comprehensive social media strategy, and there are several emerging trends to note. Video continues to be a powerful and influential element in social media marketing, with 70% of companies saying that it is their most effective marketing tool. Video generates a 62% higher engagement rate than photographs alone, and with new social sites like Meerkat and Periscope which offer live video streaming, those numbers will only increase. Sponsored content is another growing trend. Though advertorials have been around for decades, hotels are finding new ways to maximize the visibility of their content. Some are placing sponsored content on Facebook, or on influencer blogs. Another trend is the integration of a “Buy Now” button into social media websites. Customers will be able to make purchases without ever having to leave their favorite social sites. This development is a major convenience for customers and should also be an additional revenue source for hotels. The February Hotel Business Review will explore these issues and examine how some hotels are successfully integrating social media into their operations.