Colorado Real Estate Journal -
An investor group affiliated with the Hotel Aspen and Molly Gibson Lodge recently acquired the Mountain House Lodge in Aspen for an undisclosed price. MarMax HayTel LLC, associated with HayMax Capital LLC, owned by Michael and Aaron Brown, is the investment group that purchased the 26-room lodge located on East Hopkins Avenue through a deed-in-lieu agreement with the debtor. MarMax HayTel LLC bought the bank loan and received the deed, in lieu of foreclosing on the previous owner. “We plan to deliver the same great guest experience to the Mountain House Lodge that people have come to expect through the Hotel Aspen and Molly Gibson Lodge,” said Michael Brown, who, with Aaron Brown, own the 45-room Hotel Aspen and 53-room Molly Gibson. “The Mountain House will benefit from our seasoned staff and our economies of scale.” The new owners are expected to explore future opportunities for the property, much of which will depend on the revised city code options now being discussed for lodge redevelopment, he added. “If the code is written in a way that is compelling for redevelopment, we will consider that possibility, but the direction currently being deliberated does not meet that standard. If the community really wants existing lodges to redevelop their properties, I believe that the city needs to be a lot bolder, both through intelligent, commercial incentives and by simplifying the confusing application process.” The existing staff of the Hotel Aspen and Molly Gibson will assist in the operations of the Mountain House Lodge. Jeff Bay, general manager of both properties, will oversee management of all three hotels through the new management group, HayMax Hotels LLC.