This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RockResorts And JMA Ventures, LLC Announce Management Agreement For Constellation Residences At Northstar And Final Phase Of Development At Constellation





BROOMFIELD, Colo. and TRUCKEE, Calif., Nov. 25, 2013 /PRNewswire/ -- Following the strategy to grow its lodging portfolio with owned and managed properties located at the base of its mountain resorts, Vail Resorts, Inc. (NYSE:MTN) subsidiary RockResorts and developer JMA Ventures, LLC have signed a management agreement for Constellation Residences at Northstar, a spectacular collection of ski-in/ski-out boutique residences located mid-mountain at Northstar California Resort adjacent to The Ritz-Carlton, Lake Tahoe resort, to be managed by RockResorts.

Constellation will complement the RockResorts portfolio of Colorado and Jamaica resorts with its offering of vacation rental and full-ownership opportunities. In tandem with this agreement, JMA Ventures also announces plans for the final phase of development at Constellation, which includes building and selling 50 new mid-mountain residences over the next three years.

This expansion into Northstar's luxury lodging market demonstrates RockResorts' commitment to expanding lodging offerings at the base of mountain resorts and Vail Resorts' commitment to delivering the experience of a lifetime for guests, complete with the ultimate Lake Tahoe vacation destination – unparalleled skiing and snowboarding, year-round activities, shopping, dining, entertainment, and now, high-end, luxury accommodations. Beginning this winter season, the property name will officially change to Constellation Residences at Northstar, A RockResort.

"We are thrilled to add Constellation to our portfolio of RockResorts boutique properties," said James O'Donnell, chief operating officer of Vail Resorts Hospitality. "The RockResorts brand represents the hallmark of casually elegant properties with exceptional service in mountain resort locations. At Constellation, we are excited to deliver extraordinary service and experiences to our guests that are unparalleled in the Lake Tahoe region."

Building upon the success of the first phase of development, the 50 new mid-mountain residences will bring the true vision of the property to life with a mix of redesigned two-, three- and four-bedroom residences including more spacious interior and outdoor living spaces, open floor plans with entryway mudrooms ideal for families who ski, and contemporary fixtures and finishes.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs