Tuesday December 3rd, 2013 - 9:29AM
ASPEN, CO—An investor group affiliated with the Hotel Aspen and Molly Gibson Lodge has acquired the Mountain House Lodge located here for an undisclosed amount.
MarMax HayTel LLC, associated with HayMax Capital LLC owned by Michael and Aaron Brown, is the investment group that purchased the small, east Hopkins Avenue hotel through a deed in-lieu agreement with the debtor.
MarMax HayTel LLC bought the bank loan and received the deed, in lieu of foreclosing on the previous owner. They reached an agreement with the debtor to purchase the property.
The deal closed late Wednesday, November 27, and the new entity took immediate possession of the property, which is now accepting lodge reservations for the winter season.
The Browns own the Hotel Aspen and Molly Gibson Lodge. Michael Brown is a full-time resident of Aspen. The existing staff of the Hotel Aspen and Molly Gibson Lodge will assist in the operations of the Mountain House Lodge this winter with Jeff Bay, general manager of the Hotel Aspen and Molly Gibson Lodge, overseeing management of all three hotels through the group’s new management business, HayMax Hotels LLC.
“We plan to deliver the same great guest experience to the Mountain House Lodge that people have come to expect through the Hotel Aspen and Molly Gibson Lodge,” stated Brown. “The Mountain House will benefit from our seasoned staff and our economies of scale,” he continues.
Once the transition to the new lodge occurs, MarMax HayTel LLC will explore future opportunities for the lodge. Much of the decision-making for the Mountain House will depend on the revised City code options now being discussed for lodge redevelopment, says Michael Brown.