Telluride (at Colorado, USA) is Hollywood’s idea of a Western ski town. Thanks to a late 19th-century silver boom, it is packed with ornate clapboard Victorian homes, most of them in a National Historic Landmark District. The backdrop of jagged mountain peaks is as dramatic as anything this side of the Swiss Alps, while the ski mountain has legendary steeps and bump runs—The Plunge looks like a giant overturned egg carton on a nosebleed-inducing incline—that rival those at Jackson Hole.
It’s a fitting and somewhat Wagnerian setting for the grand entrance of private equity giant Apollo Global Management, LLC, led by a trio of formidable principals in Leon Black, Marc Rowan and Joshua Harris. In August 2014, they partnered with affiliates of Northview Hotel Group to buy the Hotel Madeline Telluride, rebranded it the Madeline Hotel & Residences Telluride and immediately invested nearly $10 million on upgrades. Some of that will be spent refurbishing condo residences that will go on sale this winter, featuring “the most highly amenitised turnkey-residence offering Telluride has ever seen,” promises Mark Mance, a partner at Northview. The hotel’s ski-in/ski-out location is Mountain Village, a mid-mountain development set at 9,450 feet that has been slowly built out over two decades. A neat Euro touch is a gondola that links the mid-mountain hotels and lairs of freshly minted Wall Street power brokers with a downslope town that has a vibe that’s Trustafarian blended with Los Angeles.
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(This story appears in the Mar-Apr 2015 issue of ForbesLife India. To visit our Archives, click here.)