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Vail Resorts Buying Marriott for $49 Mil

VAIL, CO-Vail Resorts plans to spend another $20 million renovating the 349-room Vail Marriott Mountain Resort, the largest hotel in the Vail Valley. It will be managed under a Marriott International franchise agreement.

By John Rebchook | Updated on July 27, 2001

VAIL, CO-Vail Resorts Inc. is paying $49.5 million for the 349-room Vail Marriott Mountain Resort, the largest hotel in the Vail Valley. And after the purchase of the hotel from Host Marriott Corp., Vail Resorts plans to spend another $20 million renovating it.

The transaction is scheduled for closing on Dec. 17.

The hotel will keep its current name, but will be managed by Vail Resorts under a Marriott International franchise agreement.

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