One of The Best Resorts in Montana Has New Owners. Who Are They?

Montana has quite a few options when it comes to hot springs. There are several places in the state where visitors can go for a relaxing soak.  One popular hot springs resort in the heart of Montana was just sold to a hospitality company for $33 million. Here's what we know about it.

According to a press release from PR Newswire, DiamondRock Hospitality Company has purchased Chico Hot Springs Resort, a hot springs resort near Pray, Montana, and an adjacent ranch for $33 million.

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DiamondRock Hospitality Company is based out of Bethesda, Maryland, and is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. The company acquired Chico Hot Springs from an individual owner. The purchase price for Chico was $27 million, and the adjacent ranch sold for $6 million. The ranch offers extensive opportunities for hiking and horseback riding as well as the potential for future expansion of the Resort or residential lot sales.

The following is a statement from DiamondRock Hospitality Company regarding the recent acquisition of Chico Hot Springs.

Chico Hot Springs Resort is another example of DiamondRock's leadership in identifying attractive investment opportunities that align with our focus on unique, leisure-oriented experiential hotels and resorts.

said Mark W. Brugger, President and Chief Executive Officer of DiamondRock Hospitality Company.

DiamondRock Hospitality Company is a self-advised real estate investment trust (REIT) that is an owner of a leading portfolio of geographically diversified hotels concentrated in top gateway markets and destination resort locations. Click here for more information and to read the press release.