AWH Partners Purchases Renowned, 100-Acre Topnotch Resort and Spa in Stowe, Vermont
New York, NY–
January 22, 2019
Investors Identify Strong Growth Opportunity, Following Vail Resorts to Destination
AWH Partners, LLC, a privately held real estate investment, development, and management firm, announces the acquisition of the celebrated Topnotch Resort and Spa establishing the ownership group’s presence in the emerging ‘East Coast Capital of Skiing.’ Spire Hospitality, AWH’s full-service hospitality management company, is now managing the resort and will immediately implement its repositioning strategy, leveraging Spire’s experience at AWH’s similarly-situated High Peaks Resort (Lake Placid, NY) to drive stronger operating revenues and profit margins.
“With Vail Resorts now running the Stowe Mountain skiing operations and bringing both the industry-leading Epic Pass and Vail’s vast resources to the destination, we see great potential in this notable resort in a growing market,” says Chad Cooley, principal of AWH Partners. “Topnotch Resort fits perfectly with the AWH strategy to purchase underperforming holdings situated on desirable land with multiple avenues for adding immediate and long-term value.”
Set within 100 acres of woodland at the foot of Mount Mansfield in Stowe, VT, Topnotch Resort and Spa blends the charm of a quintessential ski lodge with the luxurious amenities of a world-class resort. A consistent Condé Nast Traveler ‘Readers’ Choice Award’ recipient and U.S. News & World Report’s ‘Best Hotel in Vermont of 2017,’ the property offers 68 guestrooms; the acclaimed 35,000 square-foot Topnotch Spa; 9,000 square feet of meeting and event space; two local favorite, full-service restaurants – The Roost and Flannel; a premier Tennis Center with four indoor and six outdoor courts; a state-of-the-art Fitness Center; and an indoor pool, a whirlpool/Jacuzzi and two outdoor pools with mountain views.
With appreciation for the stunning natural setting and beautiful vistas at Topnotch, AWH Partners will begin exploring expansion and redevelopment opportunities of the AAA Four-Diamond property. “In addition to our immediate strategy of repositioning Topnotch’s operations, in the long-term analysis of this acquisition, we see substantial opportunity in leveraging the property’s vast and dramatically underutilized acreage for sustainably and respectfully improving the resort’s renowned facilities. Towards that end, we have brought on board local Vermont resident and experienced real estate executive Mark D’Angelo, and look forward to working collaboratively with our neighbors, the Town of Stowe, and the State of Vermont on any future plans,” says Jon Rosenfeld, principal, AWH Partners.
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About AWH Partners, LLC
AWH Partners, LLC (“AWH”) is a privately held real estate investment firm formed by alumni of The Blackstone Group and The Related Companies. Since 2010, AWH and its principals, Russ Flicker, Jon Rosenfeld, and Chad Cooley, have amassed a sizeable portfolio of hotels across the country. AWH owns Spire Hospitality, a top-tier, national hospitality platform, and AWH Development, a full-service real estate development company, providing complete vertical integration in the hospitality investment space. www.awhpartners.com
About Spire Hospitality
Spire Hospitality, led by newly appointed CEO Chris Russell, is a third-party operator of 6,000 room keys and 300,000 square feet of meeting space across 17 states. The Spire portfolio, with a focus on large, full service hotels, includes unique independent properties and premier branded assets across Hilton Hotels & Resorts (HLT), InterContinental Hotels Group (IHG), and Marriott International (MAR). Spire Hospitality offers expertise in all facets of hospitality management and is committed to preserving, protecting, and enhancing the value of hotel real estate. www.spirehotels.com