Interest in Rainbow Lodge on the rise
January 29, 2007
Rainbow Lodge has piqued the interest of several hotel magnates and local business owners since the $7 million property was put up for sale in November 2006.
Despite a lackluster real estate market, interest in Rainbow Lodge, and the surrounding 114 acres included in the sale, has been “pretty good … with some offers in the works,” said Karl Saimre of Truckee River Associates, the local commercial real estate agent who has co-listed the property.
Currently Rainbow Lodge has six to 12 “seriously interested parties” including hotel owners and local business owners from Lake Tahoe and Reno, Saimre said.
“People know of Rainbow Lodge. They see it as the gateway into the Sierra,” Saimre said. “There’s no other building like it in the area.”
The building is an “asset to the Tahoe Truckee area” that has caught the interest of some out-of-town prospective buyers, said Henry Bose, vice president of Colliers International Hotels, based in San Francisco. Colliers is a commercial brokerage firm that also co-lists the Rainbow Lodge property. For confidentiality purposes, Bose said he could not comment on any specific hotels interested in the property.
Rainbow Lodge, a 1920s inn and restaurant tucked away on Donner Summit along the Yuba River, was purchased more than a year ago by Bay Area developers Todd Foster and Kirk Syme as part of the sale of Royal Gorge Ski Resort. The sale also included 3,000 acres of land associated with the resort. The lodge, while separate from Royal Gorge, has been associated with the resort for years.
Recommended Stories For You
The Rainbow Lodge property consists of 114 acres, the lodge, restaurant and artesian wells that supply water. The lodge includes 35 guest rooms, a bar, stone fireplaces, and restaurant.