Starwood Hotels & Resorts Worldwide has sold the 179-room St Regis Aspen in Colorado, US, for $70m.
The hotel was sold to 315 East Dean Associates, a Delaware corporation represented by Bangkok-based OptAsia Capital Company.
Starwood will continue to manage the hotel for 50 years and will operate the resort under its St Regis brand.
The buyer also plans to renovate the hotel to accommodate courtyard space for dining.
Guest service and hotel operations will continue uninterrupted while upgrading work is carried out.