Hotels

ASPEN, CO-The upscale Aspen Club Lodge lands a new owner and management company, a move coming shortly after completion of a $2-million renovation. Northridge Capital has bought the property from IRG Aspen LLC. The deal puts Kimpton Hotel and Restaurant Group in as manager.

VALLEY CENTER, CA-The Rincon Band of Mission Indians and the county have reached an agreement to kick in $7 million toward road improvements along Valley Center Road for its casino.

DESCHUTES COUNTY, OR-High Desert Development Partners of Los Altos, CA, is proposing 420 houses, 180 condominiums, a hotel and a conference center as well as two golf courses, tennis courts, swimming pools and equestrian facilities on 640 acres between Bend and Redmond.

SAN DIEGO-Work is well over halfway complete on two North County time-share resort projects.

LOS ANGELES-Locally based Hilton and other big names downgraded by UBS Warburg. Concerns include slowdown in revenue growth and travel cutbacks initiated by some large corporations.

PORTLAND-Occupancy dropped last year as the market continued to soak up five new hotels in the past four years. So far this year, hoteliers in select areas are sounding a little happier. Then again, more hotel rooms are on the way.

ORLANDO-Prudential Real Estate Investors and Heller Financial get $47 million for the 15-story, 393-room property, one of the first non-Disney-owned hotels to be built at the Lake Buena Vista, FL attraction in 1972.

PHOENIX-Downtown's largest hotel is for sale, and the owners, who have put $20 million in improvements into the property, are looking for offers in the nine-figure range.