Castle Peak Holdings, the investment firm behind the Trailborn hospitality brands, closed its second vehicle with total committed capital of $315 million raised over a four month period. The firm's recent acquisition of Snow King Resort in Jackson Hole, Wy., marks the first investment of this new vehicle and expands Castle Peak's portfolio of hotels and resorts in iconic outdoor destinations across the United States.
Launched in 2021 by two Goldman Sachs alums, Castle Peak designed a unique playbook to create and scale niche real estate platforms, according to the company. This playbook, which is premised on fundamental supply demand imbalances, deep sector specialization, and a "one at a time" approach, combines real estate value creation with platform value creation to deliver outsized investment outcomes.
Trailborn is the first embodiment of Castle Peak's playbook and the singular focus of the firm today. Trailborn brings a new level of hospitality to extraordinary outdoor destinations where it doesn't currently exist with lively, elevated hotels designed to help travelers rediscover the beauty of America. Each property offers a guided experience, led by passionate local experts who curate recommendations, excursions, and essential amenities for an unforgettable stay.
"Closing this vehicle is a testament to the durability of our model and the belief that exceptional outcomes come from doing the hard work ourselves—strategically, creatively, and operationally," Ben Weinberg, co-founder and co-CEO of Castle Peak Holdings, said in a statement. "We're a team of deep sector specialists, and we believe our relentless, singular focus positions us for success in this type of environment."
"Where and how people travel is evolving, but what drives them to do so isn't—the desire to create lifelong memories with those they love. We're tapping into this by building brands that unlock extraordinary adventures in iconic outdoor destinations," said Mike Weiss, co-founder and co-CEO of Castle Peak Holdings. "We're energized by the level of excitement Trailborn has continued to receive from both investors and guests alike. This new infusion of capital will allow us to continue to scale Trailborn's approach to experiencing the great outdoors and deliver customers what they've been searching for."
In 2024, Trailborn entered into a long-term agreement with Marriott to add Trailborn's portfolio to Marriott's system. Additionally, in just over a year, Trailborn has opened five distinct properties, including Trailborn Rocky Mountains & Trailborn Rocky Mountains Outpost in Estes Park, Colo.; Trailborn Highlands in North Carolina's Blue Ridge Mountains; Trailborn Surf & Sound in Wrightsville Beach, N.C.; and most recently, Trailborn Grand Canyon in Williams, Ariz. Trailborn has additional properties debuting in Mendocino, Calif. and Jackson Hole, Wy., within the next year.