USA, New York City, New York. June 27, 2024

RobertDouglas announced today that it represented, as exclusive advisor, Castle Peak Holdings and its Trailborn brand, in arranging a $80.3 million loan for the financing of a three-hotel portfolio in supply-constrained, high barrier-to-entry outdoor hospitality destination markets across the United States.

The 310-key portfolio includes the fully renovated and relaunched Trailborn Highlands (Highlands, NC), opening in July 2024, along with properties outside the Grand Canyon (Williams, AZ) and in Wrightsville Beach, NC, which will re-launch upon completion of comprehensive renovations in Fall 2024 and Winter 2024, respectively.

Castle Peak takes a vertically integrated approach to hospitality, bringing creativity and capital to each property, paired with an innovative and meticulous approach to its branding, design, construction and operating capabilities. Inspired by the great American outdoors, Castle Peak debuted its highly-anticipated brand, Trailborn, in Fourth Quarter 2023 with Trailborn Rocky Mountains in Estes Park, Colorado, setting the stage for the brand to become a leader within the outdoor and experiential hotel industry. Trailborn's forthcoming openings will continue to affirm the brand's core mission of creating unforgettable experiences for today's traveler and pioneering one-of-a-kind guest experiences and authentically local hotels, restaurants and bars at the heart of the country's most extraordinary outdoor destinations."

Ben Weinberg and Mike Weiss, Castle Peak's Co-Founders and Co-CEOs, have quickly established an incredible brand ‘buzz' for Trailborn, with thoughtful design concepts and carefully curated experiences at iconic locations, backed by the firm's vertical integration, industry credentials, and solid investment fundamentals for their concept," said Andrew Heilmann, RobertDouglas Senior Vice President. "Guests, media, and industry leaders have already responded positively to this new product in the highly active experiential lodging sector, with excellent first season ADRs."

"Castle Peak has secured highly desirable locations with asymmetric supply and demand characteristics, providing unique access to sought-after demand generators like National Parks and some of the country's most popular outdoor destinations. The number of visitors per hotel key in the Castle Peak markets is two to three times the average of the top 25 MSAs and only a fraction of these hotel keys is truly competitive product," said Stephen O'Connor, RobertDouglas Principal & Managing Director. "The excellent long-term fundamentals were reflected in the strong interest shown by the lenders as we realized our competitive financing process."

Established in 2021 by Co-Founders and Co-CEOs Ben Weinberg and Mike Weiss, Castle Peak is a vertically integrated hospitality investment, development, and operating platform with a singular focus on supply-constrained outdoor destination markets across North America: National Park gateway towns, beach towns, lake towns, ski resorts and wine country. Castle Peak aims to deliver outsized risk-adjusted returns to institutions, endowments, foundations, and family offices with a differentiated, scalable, fundamentally asymmetric real estate investment product. The firm currently owns and operates 7 hotels and over 550 keys in iconic outdoor destinations across the U.S. Castle Peak is headquartered in New York with a team of over 225 employees across the firm's three verticals: Investments, Hotels, Brands.

Trailborn is Castle Peak's new hospitality brand, rooted in and inspired by the great American outdoors. Built for today's adventurer, each Trailborn hotel puts guests at the heart of the country's most extraordinary outdoor destinations - from national parks to coastal cliffs, and snow-capped mountains to sun-soaked beaches - to create a unique experience for outdoors enthusiasts. The brand debuted its first location in December 2023 at the entrance to Rocky Mountain National Park, one of the most visited National Parks in the country and will soon open its next hotel in Highlands, North Carolina - with additional openings to follow in the Grand Canyon; Wrightsville Beach, North Carolina; and Mendocino, California.

Trailborn is the first vertically integrated hospitality brand specializing in designing and operating elevated hotels with full-service restaurants and bars, exclusively located in the country's most sought-after outdoor destinations. Trailborn delivers a one-of-a-kind guest experience, pioneering a new standard of meticulously designed, authentically local hotels in the center of these outdoor destination markets. Taking a long-term approach to hospitality, Trailborn reinvests in the communities and natural environments surrounding each hotel. The "Keep Extraordinary" initiative donates a percentage of every reservation to support local land conservation and preserve the great American outdoors.