Estes Park’s Rocky Mountain Hotel in foreclosure as owners plan lawsuit

This story was updated at 1 p.m. Dec. 31 to add comments from John Logan.

ESTES PARK — The Rocky Mountain Hotel and Conference Center in Estes Park is in the midst of foreclosure as its operator prepares to sue its former owner.

The hotel and conference center at 1701 N. Lake Ave. currently owes $492,162 on its original $500,000 loan with a 7 percent interest rate, according to Larimer County foreclosure records. 

The current owner is Centennial-based Advanced Hospitality Management Group LLC, which purchased the building through a subsidiary last July for $5 million from previous owners Chester and Lillian Ciezczak. County assessors last valued the property at $4.9 million.

The 130-room, 88,376-square-foot hotel was originally built in 1975. Nightly rates run from $72 to $270 per night, depending on the size of the room.

John Logan, an attorney representing Advanced Hospitality, told BizWest the foreclosure is not due to cash flow or financing issues, but stems from a dispute between the current and former owners over alleged failure to disclose defects to the building before the sale was closed. He declined to elaborate on those alleged defects, citing pending litigation.

“It’s ironic that this foreclosure happened as we were putting the finishing touches on a lawsuit against the seller for non-disclosure,” he said.

Advanced Hospitality currently lists properties in Aurora, Steamboat Springs and Westminster. The company voluntarily dissolved itself with the Colorado Secretary of State at the end of October.

Advanced Hospitality has until March 31, 2020, to file its intent to come due on payments. If it fails to do so or come current on the loan, the property will go to a sheriff’s sale April 15.

This story was updated at 1 p.m. Dec. 31 to add comments from John Logan.

ESTES PARK — The Rocky Mountain Hotel and Conference Center in Estes Park is in the midst of foreclosure as its operator prepares to sue its former owner.

The hotel and conference center at 1701 N. Lake Ave. currently owes $492,162 on its original $500,000 loan with a 7 percent interest rate, according to Larimer County foreclosure records. 

The current owner is Centennial-based Advanced Hospitality Management Group LLC, which purchased the building through a subsidiary last July for $5 million from previous owners Chester and Lillian Ciezczak. County assessors last valued the property at $4.9 million.

The 130-room, 88,376-square-foot hotel was originally built in 1975. Nightly rates run from $72 to $270 per night, depending on the size of the room.

John Logan, an attorney representing Advanced Hospitality, told BizWest the foreclosure is not due to cash flow or financing issues, but stems from a dispute between the current and former owners over alleged failure to disclose defects to the building before the sale was closed. He declined to elaborate on those alleged defects, citing pending litigation.

“It’s ironic that this foreclosure happened as we were putting the finishing touches on a lawsuit against the seller for non-disclosure,” he said.

Advanced Hospitality currently lists properties in Aurora, Steamboat Springs and Westminster. The company voluntarily dissolved itself with the Colorado Secretary of State at the end of October.

Advanced Hospitality has until March 31, 2020, to file its intent to come due on payments.…