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Urgo Hotels, Triumph Development Partner on Residence Inn in Colorado

BRECKENRIDGE, CO—A joint venture between Urgo Hotels & Resorts and Triumph Development, LLC, has broken ground on a 129-suite Residence Inn by Marriott here.

Set to open in 2016, it will be the first Marriott-branded hotel in the market. Urgo and Triumph will oversee the development of the hotel and Urgo will operate it.

“Both Triumph and Urgo have a strong history of developing and repositioning hotels in mountain ski markets,” said Mathew Jalazo, director of development at Urgo Hotels.  “We are patient developers, seeking unique sites with high upside potential.  Urgo and Triumph have been working on this project for over two years, acquiring the shuttered Breckenridge Mountain Lodge, arguably one of the best sites in the market, and then shepherding the project through the extensive permitting process.

“The Residence Inn will be only the second branded hotel in the market, and we expect the Marriott flag and exceptional location to give us a compelling competitive advantage,” he added. 

The three-story property is located on a 2.6-acre parcel at 600 South Ridge St.

“Breckenridge is one of the closest major ski resort to Denver and the Denver International Airport and consistently ranks as one of the two most visited ski destination in the U.S.,” said Michael O’Connor, COO/principal of Triumph Development.  “It is a year-round resort, attracting skiers, golfers, bikers, hikers, mountaineering, fishing and rafting.  The Breckenridge lodging market has enjoyed three consecutive years of strong growth.”