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Four Seasons Hotel to Break Ground in Mountain Village in 2024…..

A groundbreaking one-billion-dollar hotel development, the largest ever in the Telluride region, is set to commence construction in Mountain Village (MV) this coming April. The Four Seasons Hotel will consist of 52 hotel keys and 40 hotel residences, featuring two separate buildings housing 28 private residences. This innovative lodging model aims to provide year-round accommodations, offering a diverse range of options for guests, families, and business gatherings.

Positioned at the base of the MV gondola station, the new hotel development occupies a prime location where pedestrians can access the property from both the gondola terminal and the plaza below.

Addressing regional lodging needs, MV Town Manager Paul Wisor stated, “There are few properties available for hotel development in the Town of Telluride, and this new project will help us meet our regional lodging needs.” MV Assistant Town Manager Michelle Haynes added, “A Four Seasons Hotel in this location was always envisioned by Ron Allred as he planned MV.”

Bill Fandel, founding broker at Compass, and Brian O’Neill, Director of the O’Neill Stetina Group, serve as co-listing agents for the project. Fandel expressed, “This flagship site is where projects like these were slated to be located since MV’s inception,” highlighting the realization of a 30-year vision.

For their first domestic venture outside Florida, Fort Partners and Merrimac Ventures, two prominent real estate developers, have joined forces. Fort Partners, led by entrepreneur Nadim Ashi, has successfully launched four hotels in Florida, including The Surf Club. Merrimac Ventures, helmed by brothers Nitin and Dev Motwani, focuses on residential and mixed-use development.

Dev Motwani, President and CEO of Merrimac Ventures, emphasized the significance of creating a 5-star experience that seamlessly blends with existing buildings in MV while reflecting the unique character of the Telluride area.

Despite the 4.5-acre size of the site, the developers deliberately limited site coverage to approximately 50 percent of the potential, incorporating public walking paths and green spaces between structures. This approach aims to break up mass and scale across the three structures.

Starting the planning process in 2019, the project saw the inclusion of 10 on-site employee apartments and an increased donation to the MV deed-restricted and community housing fund. MV Assistant Town Manager Michelle Haynes commended the development team as among the most experienced the region has worked with, noting their commitment to addressing housing needs for property staff.

Community benefits from the project amount to $7.4 million, including a village pond, paths, plaza improvements, a new public bathroom, and additional town/gondola parking spaces.

While construction may span three-plus years, Fandel and O’Neill plan to commence residence marketing next month. The hotel residences, featuring world-class contemporary architecture designs by Olson Kundig and bespoke interiors by Clements Design, range from one to five bedrooms. Individually owned, these residences offer the opportunity to rent, with pricing starting at $4 million for a one-bedroom hotel residence.

O’Neill highlighted that the private residences, distinct from the hotel, include private elevators and oxygenation in primary and some guest bedrooms. The property’s amenities comprise three restaurants, ski-in/ski-out mountain access, a spa, gym, indoor lap pool, outdoor hot tub, underground parking, and ballroom and retail spaces.

Already fielding inquiries for all units, Fandel expressed cautious optimism about a strong initial wave of contracts during the ski season and into summer. He described potential buyers as active and sophisticated travelers and investors seeking world-class properties and amenities in beautiful and discreet environments.

This luxury hotel marks the first in the region in over a decade, and Fandel anticipates it will qualify as one of only three 5-star resorts in Colorado, alongside The Broadmoor in Colorado Springs and The Little Nell in Aspen. As the developers continue working on construction drawings, the project progresses in alignment with the approved planned unit development (PUD) terms and property acquisition requirements. For more information on the Four Seasons project, Dan Henschel, 970 708 2131, [email protected]