''In the face of recent developments, the decision to proceed on the part of our ownership with the final phase of our major renovation project was courageous and far-sighted,'' says Broadmoor President and CEO Stephen Bartolin. ''It shows a serious belief in our product and a real commitment to our future, and it strongly positions us against our competition for many years to come.''

The Broadmoor Main Building as well as the Northmoor and Southmoor buildings will be totally renovated.

The first phase of the project was unveiled on Memorial Day. It included an extensive new main pool complex, the renovation of 24 Northlake units and the addition of the Lakeside Suites, a four-story structure featuring 21 new suits ranging in size form 770 sf to 1,800 sf.

The final phase includes upgrades to the main entry drive, hotel rooms in the main building, as in the original Northmoor and Southmoor buildings. The main entry drive will feature a wrought iron ''Welcome Pavilion,'' new asphalt as well as stamped and colored Bomanite surface, granite under the porte-cochere, new lighting, landscaping and planters.

Guest rooms will get high-speed Internet access via Web-TV, multiple phone lines, larger five-fixture baths with soaking tubs and separate showers.

Two new guest elevators and one new service elevator will be added. The central heat and air conditioning systems also will be replaced.

The Terrace Lounge overlooking Cheyenne Lake and the mountains will be renovated with an old-West Colorado Spring theme. The Terrace Lounge renovation alone will cost $1.2 million.

The Broadmoor Main, Southmoor and Northmoor rooms will be closed during the renovations, scheduled for completion next May. But the Southlake, Northlake, Lakeside, West Hotel, West Tower and South Tower rooms will remain open.

The Broadmoor is the longest running consecutive winner of both the AAA Five-Diamond Award and the Mobil Travel Guide Five-Star Award.

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