Waterton and Orion acquire the Virginian Lodge

US: Chicago real estate investor Waterton has partnered with Wyoming-based Orion companies to acquire the iconic Virginian Lodge and RV Park.

The companies have announced their intent to fully renovate the property in order to match the adventure travel centric market of the town of Jackson.

The 13-acre site includes a main hotel building, conference and retail space, a major restaurant and a 103-stall RV park. The group plans to revamp the full array of the space, updating certain aspects and replacing others.

David Schwartz, president and CEO of Waterton, said: “The Virginian Hotel is well-aligned with Waterton’s expertise in transforming iconic properties and we’re excited to partner with a respected Jackson-based firm to reposition the property into one with wide appeal for Jackson Hole visitors. As a multi-generational Jackson resident, Orion Companies’ vision complements my own passion for the local area.”

Interior spaces will be modernized with flooring and lighting and contemporary fixtures, to create a more modern luxury aesthetic. The group will also add five stand-alone units to appeal to tourists seeking a “glamping” experience.

The outside will undergo a refitting to upgrade amenities, such as the pool and hot tub, as well as improving the landscaping. The current saloon will be replaced with a new restaurant concept that is oriented for convenient courtyard access.

The property will be managed by OLS Hotels and Resorts, who currently operate 34 hotels across the Western US. The town of Jackson is a high-traffic tourist destination, with Yellowstone and Grand Teton national parks only a short drive from town centre.

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