RobertDouglas represented, as exclusive advisor, Castle Peak Holdings and its Trailborn brand, in arranging an $80.3-million loan for the financing of a three-hotel portfolio in supply-constrained, high barrier-to-entry outdoor hospitality destination markets across the U.S.
The 310-key portfolio includes the fully renovated and relaunched Trailborn Highlands (Highlands, NC), opening in July, along with properties outside the Grand Canyon (Williams, AZ) and in Wrightsville Beach, NC, which will re-launch upon completion of comprehensive renovations this fall and winter, respectively.
Inspired by the great American outdoors, Castle Peak debuted Trailborn, in Q4 2023 with Trailborn Rocky Mountains in Estes Park, CO. The brand’s forthcoming openings will continue to affirm the brand’s core mission of creating unforgettable experiences for today’s travelers and pioneering one-of-a-kind guest experiences and authentically local hotels, restaurants and bars in outdoor destinations.
“Ben Weinberg and Mike Weiss, Castle Peak’s co-founders and co-CEOs, have quickly established an incredible brand ‘buzz’ for Trailborn, with thoughtful design concepts and carefully curated experiences at iconic locations, backed by the firm’s vertical integration, industry credentials, and solid investment fundamentals for their concept,” said Andrew Heilmann, SVP, RobertDouglas. “Guests, media and industry leaders have already responded positively to this new product in the highly active experiential lodging sector, with excellent first season ADRs.”
Stephen O’Connor, principal/managing director, RobertDouglas, added, “Castle Peak has secured highly desirable locations with asymmetric supply and demand characteristics, providing unique access to sought-after demand generators like National Parks and some of the country’s most popular outdoor destinations. The number of visitors per hotel key in the Castle Peak markets is two to three times the average of the top 25 MSAs and only a fraction of these hotel keys is truly competitive product. The excellent long-term fundamentals were reflected in the strong interest shown by the lenders as we realized our competitive financing process.”
