The Knob Hill Inn, a luxury boutique hotel in Ketchum, is for sale at auction at a minimum price of $3.1 million. According to a news release from Concierge Auctions, bidding is currently underway at www.KnobHillAuction.com and will end with a live, on-site auction on Tuesday, July 26.
The hotel was originally listed for $17 million. The price was marked down several times and nearly sold to nonprofit Sun Valley Adaptive Sports, which wanted to buy it for conversion to a rehabilitation center for wounded veterans. However, that deal fell through last fall when the organization couldn't raise the estimated $10 million needed to buy the hotel and renovate it.
The sale is taking place in cooperation with listing agent Pam Colesworthy of Sun Valley Sotheby's International Realty. Colesworthy said the new owners "can continue to run the inn as-is or redesign and redevelop it into an entirely new experience."
The Knob Hill Inn is on 1.2 landscaped acres and has 26 guest suites, a two-bedroom manager's apartment, five employee housing suites and a host of luxury amenities, including 10 fireplaces, a fitness room, wine bar, indoor/outdoor swimming pool, a lounge/reception area and two restaurants.
"This auction presents an amazing chance to name the price for a true alpine lifestyle property in one of our nation's most sought-after mountain resort destinations," said Laura Brady, vice president of marketing for Concierge Auctions.
The property is available for preview daily from 1-4 p.m. For details, call 800-436-0346 or 888-966-4759 or visit www.ConciergeAuctions.com.