Tramline Development Signs Letter of Intent with Aspen Skiing
License the The Little Nell in Jackson Hole, Wyoming
JACKSON, WY, September 28, 2007. Tramline Development LLC (Tramline) and Aspen Skiing Company LLC (ASC), owner of The Little Nell have executed a Letter of Intent (LOI) to pursue a licensing agreement for development of The Little Nell in Jackson Hole, located slope side to the Jackson Hole Mountain Resort. The LOI will evolve into a binding agreement in ninety days, if both parties agree on terms. The project is scheduled to break ground summer 2008 and will open in 2010.
This pending agreement reflects a continuation of planned expansion of The Little Nell brand which began with Residences at The Little Nell in Aspen and then The Little Nell Snowmass. The Little Nell in Jackson Hole will be the first licensing agreement outside of Aspen or Snowmass Village. The hotel will be operated by Terra Resort Group, a hotel management company affiliated with Tramline Development.
"It is an honor to have the chance to be the caretakers of such an incredible brand like The Little Nell," says Terra Resort Group President Jamie Yarrow. "It's rare to find partners that share our values and passion for providing a luxury product, paired with a dedication to sustainability. The Little Nell is the perfect complement to Jackson Hole and the experience we will create for our guests."
"This development in Jackson Hole provides the perfect venue to bring The Little Nell experience to a new group of avid skiers and snowboarders and is in line with our goal of providing extraordinary experiences in extraordinary places," says Mike Kaplan, president and CEO Aspen Skiing Company.
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