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

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