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"Vail Resorts announced today that one of its subsidiary companies has entered into a contract to sell the Vail Marriott Mountain Resort &amp; Spa for &#36;62.0 million to DiamondRock Hospitality Limited Partnership. The transaction price indicates a total value for the hotel of approximately &#36;180,000 per key. The sale price is subject to adjustment based on certain provisions of the agreement. The transaction is anticipated to close in June 2005, subject to certain closing conditions. After the transaction is completed, the hotel will retain its current name and will remain branded as a full-service Marriott resort. Vail Resorts, through its Vail Resorts Lodging Company subsidiary, will continue to manage the resort for 15 years through 2020 under a management contract with DiamondRock, that is co-terminus with a Marriott franchise agreement for the hotel."
<https://www.breakingtravelnews.com/news/article/btn200505171150173/>