Highgate Expands Viceroy With Sun Valley Launch

More than two years since acquiring Viceroy Hotel Group, real estate investment firm Highgate is ramping up its investment in the luxury brand with new developments in new markets.

Viceroy plans to open The Harriman at the entrance to Ketchum, part of the Sun Valley region in Idaho, in summer 2026, according to Richard Russo, a principal at Highgate. The property will be the “first true luxury hotel” in the popular ski destination, and an announcement is expected later this week.

“Ketchum and Sun Valley have remained extremely exclusive due to their strict development regulations, which have kept new hotels from entering the market,” Russo told Skift. “Our job will be to honor the laid-back authenticity while delivering refined, world-class service without over-commercializing what makes the region special.”

The resort will include 73 guest rooms, a spa, year-round plunge and thermal pools, and an observatory for guests to view the unusually clear night skies in the area.

The project represents a strategic shift in emphasis for Viceroy, which was acquired by real estate investment firm Highgate in 2023. Originally known for urban boutique hotels, Viceroy began offering resorts a decade ago, targeting wealthy leisure travelers in outdoor destinations, too.

Last fall, for example, the brand opened a hotel in Portugal’s Algarve region, which executives said was its model for future design and development.

Since the acquisition, Highgate, which manages over 500 hotels across many brands, has been on a hiring spree at Viceroy, adding new leaders across operations, marketing, distribution, design, and development.

Branded Residential Push

The Sun Valley hotel will also come with a dozen condo-style units where owners can access hotel-style amenities, from room service to housekeeping, on demand.

That’s part of Highgate’s broader effort to create more residences under the Viceroy brand.

“While pricing can vary based on location, unit size, and view, current listings for Viceroy-branded residences in Florida markets like Miami and Fort Lauderdale typically range from $1.5 million to over $8 million,” said Arash Azarbarzin, CEO of Highgate. “These prices are generally 20–25% above comparable non-branded luxury properties.”

“We anticipate branded residential to represent a growing share of Viceroy’s overall business, potentially reaching upwards of 30–40% over the next five years,” Azarbarzin said.

Viceroy currently operates properties in nine locations across Mexico, Colorado, St. Lucia, Serbia, California, Illinois, and Washington, D.C. Besides adding one in Sun Valley, Idaho, others are in the works.

“We look forward to sharing new, brand-defining projects in the coming months,” Russo said.

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