CBRE Arranges Sale of Chico Hot Springs Resort

CBRE has arranged the sale of Chico Hot Springs Resort, a 113-unit property located in Pray, Montana. Dance Hall Hill LLC sold the property to DiamondRock Hospitality in a transaction that closed August 1, 2023. A sale price was not disclosed.

Chris Burdett, Matthew Behrens, and Aaron Solaimani, with CBRE Hotels represented the seller, Dance Hall Hill LLC, in the transaction.

Chico has been a mainstay in Paradise Valley for over 100 years, attracting guests from around the world to enjoy its 105-degree hot springs. With multiple food outlets, including the Historic Restaurant and the well-known Chico Saloon, guests and locals alike have enjoyed years of fine dining and late-night live music.

Located at the base of the prominent Emigrant Peak, Chico Hot Springs Resort is adjacent to Yellowstone National Park (YNP), the Yellowstone River, and close to the Livingston as well as Bozeman/Yellowstone International Airport. The 120-year-old property represents a distinct Montana experience with historic touches and western themes while offering modern amenities, relaxing spa treatments, and a 60,000-gallon natural hot spring. Chico Resort occupies nearly 800 open acres of land (150+ acre resort and 595 acres of excess land), providing endless outdoor opportunities to enjoy the picturesque views through horseback riding, fishing, walking trails, and outdoor events.

"It has been a pleasure working in partnership with the owners of Chico Hot Springs Resort to transfer this iconic property in the heart of Paradise Valley, Montana to its next steward. We appreciate all the hard work on both sides and look forward to seeing the continued growth and expansion DiamondRock has planned in the coming years," said Chris Burdett, an Executive Vice President with CBRE Hotels.