Real estate developers Fort Partners and Merrimac Ventures are building a Four Seasons hotel and condo resort in Telluride, Colorado, according to the Wall Street Journal.
The project will feature 52 guest rooms, where the owners expect to charge an average rate of more than $1,000 a night and 68 residences which are expected to start at over $2 million for one-bedrooms.
Construction is expected to begin later this year, with the property expected to open in two to three years.
Both developers have been active in Florida and this project is their first outside of the state. However, they say they coast of Florida has been overrun and they see the opportunity for a ski resort in a town which hasn’t seen a new luxury hotel in more than decade. High-end Colorado ski resorts have performed well in recent years. According to data from CoStar, average daily room rates for Vail and Aspen luxury resorts were about $696 over the first 10 months of 2024, compared with about $467 for the same period in 2019.