Telluride, CO - The Peaks Resort & Golden Door Spa, a resort hotel at Colorado's Telluride ski and snowboard resort, has announced plans for over $60 million in renovations and refurbishments that will result in its conversion to a luxury condominium hotel available for individual ownership. As part of the redevelopment, all of the resort's guestrooms will receive a floor-to-ceiling re-design that will include both structural and cosmetic enhancements. The property will ultimately operate as a condo-hotel, with the conversion due to be completed by December 2007.

"As the first property in Telluride to combine the amenities and service of an established resort name with the ownership opportunities of a limited collection of luxury condominiums, The Peaks will redefine the concept of luxury mountain lifestyle," said Eric Sather, general manager for The Peaks.

Architecture and design firm Skidmore, Owings & Merrill LLP (SOM) will lead the extensive renovations, which will transform the resort's 174 current guestrooms into a variety of studio, one- and two-bedroom suites, priced from $500,000. In addition, the resort will refurbish public and meeting spaces and its Golden Door Spa.

All of the resort's accommodations will receive a complete redesign, with new furniture, flooring, wall surfaces and fixtures. Amenities such as flat-screen televisions, gas fireplaces and spa bathrooms with separate shower and tub will further both owner and guest enjoyment. Decor will be accented with extensive millwork, the use of native and natural stone and woods and custom-selected regional antique art pieces. Many rooms will have outdoor decks or patios, and all rooms will offer a private owner's closet where personal belongings may be stored between stays.

Renovation plans call for the redesign of the lobby, restaurants and Great Room in addition to a freshening of the resort's meeting and event space, children's activity center and Golden Door Spa. Guests and owners will also enjoy upgrades to the resort's fitness center, ski valet and valet areas.

Design plans extend to the resort's exterior, where color and texture will be used to soften The Peaks' appearance, and allow the buildings to blend more naturally into the surroundings. New soft-edged landscaping and multi-level entryways will provide a heightened sense of arrival, and facilitate the check-in/check-out process.

Once enhancements are complete, amenities at The Peaks will include ski-in/ski-out access to the Telluride ski area, privileges at the Telluride Ski & Golf Company championship golf course, tennis, the Golden Door Spa and four onsite restaurants and lounges. Other services include 24-hour in-room dining, daily housekeeping, valet and porter services, a ski valet to heat boots, tune skis and assist with equipment storage, onsite ski rental and lift ticket purchase, and a concierge to help coordinate travel, arrange dining reservations and provide detailed information on the area's array of activities - from heli-skiing and dog-sledding in winter, to mountain biking and whitewater rafting in summer.

The Peaks Resort & Golden Door Spa began taking condominium sales on Dec. 29. Fully-furnished units are priced from $500,000. When not in personal use, condo owners may rent their suite as a traditional hotel room. Real estate sales and marketing will be handled by Sotheby's International/Peaks Real Estate.