The redeveloped Limelight Lodge opened in late 2008, but after the redevelopment, the owners found themselves with more debt than they anticipated, thanks in part to the failure of two penthouse condos in the Monarch on the Park building to sell.

ASPEN REAL ESTATE – The Aspen Skiing Co. closed on the purchase of the Limelight Lodge from the Paas family on Tuesday and announced the hiring of a new general manager to run the 126-room hotel…The Limelight represents SkiCo’s only moderately priced hotel property. The company also owns the Little Nell and the Snowmass Club and manages the Residences at Little Nell.Cherrett said that the company never intended to buy the hotel, but when the opportunity arose, the company took it, recognizing the need in the market for midpriced lodging.
By Curtis Wackerle, April 14, 2010 Aspen Daily News

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