Wednesday, September 18, 2002
Steamboat Springs The new owners of the Harbor Hotel will take the winter to formulate their future strategy for the management and renovation of the property.
Longtime owner George Hussey sold the hotel earlier this month for $3.9 million to a group of individual investors.
John Hillenbrand, a spokesman for the new owners, said the sale was actually made up of three separate transactions. But the ownership of the hotel will be brought together under one entity, Harbor Hotel Group LLC.
Two related families are the primary purchasers, Hillenbrand said. He moved his own family here several weeks ago.
The business background of the new owners includes management of manufacturing companies but not hotel management, Hillenbrand said.
They were drawn to the hotel by its central location in downtown Steamboat Springs and its potential, he added.
"When you look at a map of downtown Steamboat, you're drawn to the Harbor," Hillenbrand said.
The Harbor consists of the original hotel, built in 1940, which includes 66 rooms. A more modern building, which fronts on Yampa Avenue, includes 24 condos and 22 motel rooms. The new owners are leaning toward converting the motel rooms into 11 condominiums.
Other options include refurbishing the condos and putting them back on the short-term market, or possibly refurbishing them and selling them. But that decision has not been made.
Although the new owners have determined that structurally the property is in good shape, they expect to invest significant funds to bring the property up to a higher standard, Hillenbrand said. He pointed out that no two of the hotel's 66 rooms are alike.
"We want to spend the winter looking at each room individually," Hillenbrand said. "We intend to polish it into something we can be proud of.