Durango, CO (June 2 - News Release) Durango Mountain Resort and the Cascade Village Condominium Association have reached an agreement under which DMR will manage the property and operate the lodging program for Cascade Village, as well as lease the central Benchmark Building and operate its facilities.
"We're extremely pleased to enter into this partnership," said E.J. Schanfarber, Director of Lodging and Property Management at DMR. "Board President Jim Horkovich and the Association staff have been great to work with, and Cascade Village's inventory of rooms and facilities will be a great addition to the DMR family."
DMR will add the 100-110 units at Cascade Village to the 175 units it currently manages at the Purgatory Village Condominium Hotel, East Rim Condominiums, Best Western Lodge, ElkPoint Townhomes and various other units throughout the resort area. The addition of Cascade Village will increase DMR's lodging units at or near the resort by 60 percent, and will double the size of groups the resort can accommodate.
"This addition is a great step towards our goal of increasing lodging options at DMR, making it possible to attract larger groups, conferences and events," said Director of Reservations and Travel Services Mike Elliott.
"Considering Cascade's location as our closest neighbor, and the fact that their two and three bedroom units are perfectly suited for DMR's family-oriented clientele, we feel this partnership provides the perfect compliment to help us grow and improve the North county resort business," said Schanfarber. Historically as busy in the summer months as the winter, Cascade has become a favorite spot for weddings, and will help bolster the resort's expanding summer programs as well.
DMR will also lease and run the Benchmark Building, including the popular restaurant, The Cascade Grill. The Grill will return to the popular family-style steak and seafood restaurant format under the management of Bo Maloney and Keri Griffiths, who previously managed the restaurant during its heyday in the 1990's. The Grill is scheduled to open on Father's Day weekend along with the start of summer operations at DMR. Other Benchmark amenities include a beautiful lodge fireplace and sitting area and an indoor pool.
In a recent letter to Cascade homeowners Horkovich wrote, "The Board felt that DMR provided the strongest team, resources, and plan for restoring Cascade to the level we have come to expect and taking it into the future. We are very excited about DMR's plans to integrate Cascade into their overall resort plan, to market us as part of the overall resort, and to provide us with first class service and management in all areas, from reservations and marketing, to maintenance and food service."
"The DMR/Cascade partnership allows both properties to take advantage of numerous synergies in expenses and economies of scale that will reduce costs and improve service levels for all our residents and guests," said Schanfarber. DMR will combine maintenance, front office and housekeeping with current departments, and will integrate the Cascade units and village amenities directly into sales and marketing programs.
The Cascade Village Condominium Association will be integrated into existing resort homeowner's associations, including resort benefits. The Cascade association also changed the date of their annual meeting to coincide with DMR's Homeowners Weekend (June 27-29) and will be included in DMR's community activities, events, newsletter and website this summer.
The agreement is effective immediately and runs for 10 years, renewable annually. Cascade Village was previously managed by Mill Creek Realty, which was released from its rental contract by the Condominium Association on March 13, 2003.
Horkovich added, "The (DMR) management team has already demonstrated a 'can-do' enthusiastic attitude and is already getting on top of group reservations*The Board is both confident and enthusiastic that DMRR will do a superior job of promoting our rental interests."
"The addition of Cascade Village on the resort's northern border is a perfect fit," commented resort CEO Gary Derck. "Our ongoing expansion as a business and as a resort community will allow us continue to improve where it matters most: on the ski hill."