Starwood Sells St. Regis Aspen for $70 Million

The St. Regis Aspen has been sold, but the property will continue operation as St. Regis under a 50-year management contract with Starwood Hotels. The new owner, 315 East Dean Associates, is a Delaware Corporation for Bangkok-based OptAsia Capital Co.

The buyer has committed to renovating the 179-room hotel including the incorporation of dining outlets in the expansive and currently open-space courtyard.

Will this shift the property up to category 7?