Zermatt owners buy The Homestead
November 23, 2010
Legacy Resorts Management, the entity created to save Zermatt Resort from its debt load last summer, purchased the Homestead Resort across the street last Friday.
Legacy now owns both properties on the west side of Midway and co-managing partner Steve Eddington said that will allow the sharing of staff and assets. Guests and homeowners at Homestead will have access to Zermatt’s conference space while Zermatt guests and owners will have access to the golf course and crater. Both resorts have one restaurant or more and a spa.
The combined resorts give Legacy the ability to host groups as large as 1,000 people, he said.
Legacy intends to preserve the unique theme and personality at each resort, but combining the staff means the service level at The Homestead will be raised from three diamonds to Zermatt’s four diamonds, he said.
The resort was purchased from the Shanons who had been seeking a buyer for some time. Eddington said Legacy had been eyeing Homestead for awhile but only put down earnest money 60 days ago.
The Homestead’s décor pays homage to its founding 125 years ago, and The Zermatt is Swiss-themed in honor of the area’s Swiss immigrants.
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"Both are steeped in their own wonderful traditions. We’ll make them even better going forward," he said. "They are absolutely complementary to one another."
Eddington said Legacy is not foreseeing any lay-offs in the transition, but that the "best of the best" from each resort will be combined to create a level of service fit for a four-diamond rating.
The new access to amenities makes this a win-win for homeowners, he said.
Michael Henke, Midway city planner, said he’s relieved that Legacy has agreed to adopt the development master plan worked out with the former owners.
They also plan to upgrade some of the facilities, which is good news, Henke said. The former owners had been trying to sell for nearly a decade and had kept the resort operating, but not much more. Some of the amenities need to be updated, and Legacy has expressed an intention to do that on their own time frame, he added.
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