Mission Hill Hospitality Expands Portfolio with Hotel Acquisition in Breckenridge
Marking Mission Hill Hospitality’s third acquisition in Colorado, the select service and extended stay hotel investor has acquired the 129–key Residence Inn by Marriott in Breckenridge. The terms of the deal are undisclosed.
Following the purchases of the Holiday Inn and La Quinta Steamboat Springs in early 2023, its portfolio now includes 33 hotels across 16 states: Alabama, California, Colorado, Florida, Georgia, Kansas, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Oregon, South Carolina, Texas, Vermont, and Virginia.
“We are excited to expand our Colorado portfolio in one of the country’s premier ski destinations. This well-located asset is the only true extended-stay hotel product proximate to Breckenridge Ski Resort, one of the most visited ski mountains in North America,” said Mike Wilbert, managing director, Mission Hill Hospitality. “The acquisition highlights our strategy of acquiring high-quality select service and extended stay hotels in high-barrier markets with strong fundamentals. Less than a 90-minute drive from Denver, the hotel offers exceptional Rocky Mountain views, easy walking distance to the ski lifts, and convenient access to the bustling downtown area of Breckenridge.”
Opened in 2016, the Residence Inn Breckenridge is among the area’s newer hotels. The hotel is located in the Historic District of downtown Breckenridge adjacent to the city’s shopping and entertainment scene which features over 75 dining choices and 160 shops. Guests can also explore the nearby attractions through activities like golfing, hiking, biking, and fishing, or explore other outdoor pursuits such as gold mining and rafting.
The Residence Inn Breckenridge is located a short walk from QuickSilver Super 6 Chair Lift at Breckenridge Ski Resort and is serviced by the local ski area shuttle. Breckenridge Ski Resort ranked #3 in North American Skier Visits for the 2021/2022 season and has been the most visited mountain resort in the United States since the 2014/2015 ski season.
The hotel offers a fitness center, full breakfast, and a cocktail bar and lounge. Guests can enjoy the year-round outdoor pool and hot tub experiences with stunning views of the town and surrounding valley. Other amenities include barbeque grills, a 24-hour front desk, a 24-hour health club, ski storage, and a free area shuttle. The hotel also features 1700-square feet of flexible meeting space. The Residence Inn Breckenridge is a two-hour drive (104 miles) west of Denver International Airport (DEN) and a 90-minute drive (86 miles) from downtown Denver.
Mission Hill Hospitality invests in the select service and extended stay hotel sector. Founded in 2021, the Denver-based firm focuses on value-add and development projects that present significant opportunity given market and economic conditions.