Combined company would result in the third-largest pure-play publicly traded lodging REIT by enterprise value
Vail Resorts, Inc. (NYSE: MTN) today announced that on Feb. 17, 2017, it entered an agreement to acquire Stowe Mountain Resort from Mt. Mansfield Company, Inc. (MMC), a wholly owned subsidiary of American International Group, Inc. (AIG), for a purchase price of $50 million, subject to certain adjustments.
The 270-room hotel has been designed in collaboration with Dutch designer, Marcel Wanders, along with South West Architecture - the architectural company of record for Mondrian Doha, responsible for the design of the building.
Concord Hospitality announced today that it plans to open Pittsburgh's first Autograph Collection Hotel in the heart of the Oakland neighborhood. Construction began on the 167-room property, The Oaklander Hotel, last month. The development team is led by Oakland Fifth Avenue Hotel Associates LP, a partnership between Concord and Callay Capital.