Vail Resorts wins $8.5 million in Florida case
BROOMFIELD Vail Resorts, Inc. Thursday announced that its luxury hotel management company, RockResorts International, won $8.5 million in damages from Cheeca Holdings LLC, the owner of the former RockResorts’ property at Cheeca Lodge & Spa in Islamorada, Fla. The arbitrator’s Frb. 28 decision found that the owner of Cheeca Lodge & Spa had wrongfully ended the hotel management contract and that RockResorts “did not breach the contract.”The arbitrator’s ruling, also allows RockResorts to seek costs and attorneys fees from Cheeca Holdings in the next stage of the case, expected to be finished in the next 60 to 90 days. The total award will be final and non-appealable.”We are extremely pleased with the arbitrator’s decision in the case,” said Rob Katz, Chief Executive Officer of Vail Resorts. “It vindicates our belief all along that RockResorts performed its management obligations to Cheeca in good faith and in accordance with the management contract.
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