Four Seasons in Vail changes head contractor
Vail, CO Colorado
VAIL, Colorado – The Four Seasons Resort, which is currently under construction in Vail, Colorado, has hired a new general contractor, sources said Thursday.
“I have heard that the major lender has changed contractors from the local individual to someone who had experience in the local market and mountain and ski towns,” said Hans Willimann, the resort’s general manager.
The decision was made by Barclays Capital, the senior lender for the project, to “ensure continued progress of the project,” said a source close to the investment company.
The project, which includes a hotel, fractional residences and whole-ownership condominiums located southwest of the main Vail roundabout, is slated to be open this December.
The current general contractor is Layton Construction, a nationwide company, but sources said that the new contractor will be Hyder Construction, a Denver-based company that also managed Vail Resorts’ Front Door project, and buildings at Spruce Saddle and Two Elk.
Representatives from both companies were not prepared to comment on Thursday.
The Barclays source declined to say why Layton Construction would no longer manage the project, saying that the change was in the best interests of the project.
“In its role as a senior lender, Barclays Capital is doing everything possible to ensure that the transition will be seamless and remains committed to seeing this landmark project through to a timely completion,” the source said.
Responding to concerns earlier in the spring that the project was in financial trouble, Willimann said the resort is on firm financial footing and in fact preparing for its winter opening.
“There was always a committed lender behind it, and we’re fortunate to have that,” he said. “The positive side is that this hotel will open, and it’s going to be a wonderful addition to Vail.”
Staff Writer Melanie Wong can be reached at 970-748-2928 or email@example.com.
The Vail Valley’s real estate market has long been an unusual one, with very expensive sales accounting for a large share of the market’s dollar volume. That means a few sales can have a large impact on volume.