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The Next Generation Investment Firm Creating and Scaling Niche Real Estate Platforms
Our Outdoor Adventure Resort Platform
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The Next Generation Investment Firm Creating and Scaling Niche Real Estate Platforms
Our Outdoor Adventure Resort Platform
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The Next Generation Investment Firm Creating and Scaling Niche Real Estate Platforms
Our Outdoor Adventure Resort Platform
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The Next Generation Investment Firm Creating and Scaling Niche Real Estate Platforms
Our Outdoor Adventure Resort Platform
The Next Generation Investment Firm Creating and Scaling Niche Real Estate Platforms
Our Outdoor Adventure Resort Platform
CP2 Intro
Our Founding Ethos
When we started our firm, we saw an opportunity over the next 50 years to create and scale niche real estate platforms. One at a time.
We define niche real estate as the $10 trillion market of non-traditional commercial real estate outside of traditional office, multifamily, industrial and retail.
We hunt for the niche asset classes with structural supply demand imbalances, multidecade secular tailwinds, and non-institutional owner-operators.
Then we start building the platform, or operating company, to create the insight, expertise and differentiation. Our platforms allow us to price risk, look around the corner, solve complex problems, and make the challenging judgement calls required to win through the volatile political and economic environment we now live in.
We built our firm to play a game others aren’t playing, on playing fields others aren’t paying attention to, with tools to win others don’t have. Which we felt was required to earn the trust of others and the right to manage their capital.
And in a world overwhelmed with noise, distractions, and a disproportionate focus on others, our approach allows us to tune it out and play our game with our people and our values.
We built our firm to play a game others aren’t playing, on playing fields others aren’t paying attention to, with tools to win others don’t have. Which we felt was required to earn the trust of others and the right to manage their capital.
And in a world overwhelmed with noise, distractions, and a disproportionate focus on others, our approach allows us to tune it out and play our game with our people and our values.
Trailborn is the first embodiment of the Castle Peak playbook, a hospitality brand and operating company focused on hotels and resorts in iconic outdoor destinations: national park gateway towns, beach towns, ski resorts, and wine country. We launched in 2021, own and operate 8 hotels and resorts, and are now deploying our second opportunistic vehicle of $315 million.
There is an indescribable bond between a group of people who commit themselves to creating something from nothing. It is extraordinary. And one of the great joys and privileges of our lives alongside the Castle Peak team, the Trailborn team, and our investors.
Whether you’re a prospective investor, employee, partner, vendor, or consultant, we hope you enjoy the next few minutes learning a bit more about us as humans, investors and company-builders.
Trailborn is the first embodiment of the Castle Peak playbook, a hospitality brand and operating company focused on hotels and resorts in iconic outdoor destinations: national park gateway towns, beach towns, ski resorts, and wine country. We launched in 2021, own and operate 8 hotels and resorts, and are now deploying our second opportunistic vehicle of $315 million.
There is an indescribable bond between a group of people who commit themselves to creating something from nothing. It is extraordinary. And one of the great joys and privileges of our lives alongside the Castle Peak team, the Trailborn team, and our investors.
Whether you’re a prospective investor, employee, partner, vendor, or consultant, we hope you enjoy the next few minutes learning a bit more about us as humans, investors and company-builders.
CP3 Partners
Our Partners
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Our Firm at a Glance
Singularly focused on iconic outdoor destinations
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Trailborn Platform at a Glance
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Portfolio at a Glance
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Iconic Real Estate in Iconic Outdoor Destinations
Ski Resorts, and Wine Country
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Trailborn: The Great American Outdoors in Partnership with Marriott
CP6 Experienced specialists
CPH14-a Location (Two Column)
Experienced Specialists Leading Each Discipline
Investment & Development Company
Investments, Strategic Operations, Development & Construction, Capital Formation, Platform Finance & Operations
CP7 Alpha generators
How the Platform Generates Alpha
Castle Peak
In-Housing Sourcing & Originations
Castle Peak’s sourcing strategy begins with data-driven market selection and ends with “boots on the ground” long-term relationship building. The in-house business development team maintains a proprietary database of more than 250 outdoor destinations markets and over 3,000 hotels and resorts.
In-House Development & Construction
Castle Peak’s renovation and repositioning strategy is maniacally focused on understanding what improvements and upgrades generate a return on invested capital and what does not, which varies by asset, by market and by customer. Since inception, the in-house development and construction team has completed more than $100 million of renovations.
Trailborn
Trailborn, Affiliate Brand & Operating Company
Trailborn is Castle Peak’s affiliated brand and operating company started by Co-CEO’s Ben Weinberg and Mike Weiss in 2021. This purpose-built, four star outdoor adventure platform delivers a vertically integrated execution for Castle Peak investors.
Strategic Partnership with Marriott
In 2024, Trailborn and Marriott announced their partnership to anchor Marriott’s first Outdoor-focused soft brand and category. This unlocks more than 230 million Marriott Bonvoy members.
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How the Platform Defines Iconic Outdoor Destination Markets
Find the “Forever” Demand Drivers
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How the Platform Identifies Investable Outdoor Destination Markets
Finding Markets with a Fundamental Supply Demand Mismatch
Typical Trailborn destinations record at least one million annual visitors.
Every Trailborn market is analyzed for proven historical performance through the Great Financial Crisis and the Pandemic.
Typical barriers to entry include surrounding government owned parks and forests, limited available commercial land, limited water and sewage infrastructure, and restrictive zoning for new development.
Typical Trailborn markets are often defined by low quality existing inventory that offers a 2 to 3 star, “cookie cutter” guest experience.
CP9 Values
Our Values
One Scoreboard: Investment Returns. And One Asset: Trust.
We are simply focused on doing what we said we were going to do. And being honest and straightforward in the twists and turns along the way.
Focus on What Really Matters and Dig Deeper.
Natural forces will not lead you here. This requires pattern recognition, commercial instincts and intellectual rigor.
Creating Value vs. Extracting Value.
The firms we admire and study create value in everything they do, bringing things into the world people want and need, rather than finding ways to extract value from the system.
Blitz When Everyone Else Breaks.
We play to win. This is a competitive edge and requires a team who shares a scrappy entrepreneurial spirit, a relentless hunger and a differentiated intensity.
Discipline, Discipline, Discipline.
Emotion is the enemy of winning investment decisions. Patience when things don’t make sense, aggressiveness when things do make sense, and self-awareness of what we know and don’t know are critical to our investment process.
Help Others And Ask for Nothing in Return.
Our mentors taught us this simple, elegant formula that works in the ways you least expect.
Always Think 10 Years Down the Road.
Our dedication to long-term decision frameworks pervades every corner of our business. We lead with a focus on outcomes ten years from now, not ten weeks or ten months.
Be Humble. Be Curious. Be a Truth-Seeker.
We’ll never hide from a mistake, hide from what we don’t know, or hide from fundamental change. We are voracious truth-seekers in everything we evaluate: new assets, new hires, and ourselves. We embrace breaking, fixing, learning and constantly improving.
Recruit and Invest In Top 5% Talent.
Great businesses simply give great people a chance. Never compromise on quality of people. Ever.
Clarity is Power.
Every business naturally manufactures fog. We see it, we run towards it, understand the root cause, bring everyone together and do the hard work to create clarity for the team.
CPH10 Team[Founders]
Our Founders
Ben Weinberg
Co-Founder & Co-CEO
Goldman Sachs, TPG, Sixth Street
New York
Before founding Castle Peak and Trailborn, Ben spent his career investing in platforms and advising businesses at Goldman Sachs, TPG ($229 billion under management), and Sixth Street ($75 billion under management). He has worked on over $10 billion of transactions in commercial real estate, restructurings, private equity, and early stage equity investments. Ben is a graduate of Middlebury College. When Ben gets outside, you’ll find him hiking in the Sawatch Range of the Rocky Mountains with his wife Caroline and their son James, or fly fishing on the Eagle River. Ben is a member of the Investment Committee.
Mike Weiss
Co-Founder & Co-CEO
Goldman Sachs, TPG, Sixth Street
New York
Before founding Castle Peak and Trailborn, Mike worked in real estate private equity and investment banking at Goldman Sachs before spending the next 10 years building and operating real estate and hospitality businesses as a co-founder of Compass, co-founder of Rise, and a member of the early leadership team at Maple. He also spent time working at Airbnb in the early days while in business school. Mike is a graduate of Cornell University and received an MBA from Stanford GSB. When Mike gets outside, you’ll find him hiking with his wife Sam searching for the highest peak, or on the golf course in search of his swing. Mike is a member of the Investment Committee.
CPH11 Members
Investment Firm & Development Company
David Better
Partner
Gregg Michel
Chief Financial Officer
Eric Phillips
Managing Director, Capital Formation
David Goldstein
Managing Director, Strategic Operations
Laron Turley
Principal, Development & Construction
Nikko Sansone
Principal, Business Development
Shannon Turbidy
Vice President, Investments
Michael Cerapek
Vice President, Fund Finance & Operations
Sophie Aurelio
Director, Development & Construction
Jonah Deich
Associate, Investments
Preet Bhaidaswala
Associate, Investments
Liam Doyle
Manager, Development & Construction
Jack McLaughlin
Associate, Investments
Julia Armani
Associate, Platform Finance & Operations
Jaclyn Anderson
Platform Administration & Operations
Brand & Operating Company
Matt Werner
Chief Financial Officer
Greg Hathaway
Executive Creative Director, Design & Creative
Taylor Davis
Vice President, Brand Marketing
Margalit Kohanim
Vice President, Property & Experience Development
Seth Schreiner
Vice President, Performance Marketing
Diane Bango
Vice President, Revenue Management
Jonathan Sigler
Vice President, Finance & Accounting
Sean Johnston
Vice President, Operations
Amanda Kusek
Senior Director, Brand Operations
Patrick Masters
Senior Director, Human Resources
Imogen Arnold
Design Director, Design & Creative
Andrew Sherman
Corporate Director, Food & Beverage
Eston Miles
Corporate Director, Information Technology
Mariana Hristopoulos
Corporate Director, Human Resources
Kyle Hall
Corporate Director, Revenue Management
Brian Cooke
Corporate Director, Sales
Cameron Pierce
Associate, Financial Planning & Analysis
Megan Shelton
Manager, Social Media & Brand Marketing
Nancy Hu
Visual Designer, Design & Creative
CPH12 Property or News Feature Module
MOST RECENT ACQUISITION
Trailborn Jackson Hole
Castle Peak Holdings, the investment firm behind the Trailborn hospitality brands, has acquired Snow King Resort, with plans to bring Trailborn to Wyoming’s premier four season mountain destination.
Jackson Hole
Wyoming
Key count
Restaurants &
Bar On Site
Full Service Spa
Swimming Pool & Fitness Center
Adventure Center
CPH13 Protfolio Listing
CPH14-a Location (Single Column)
CPH14-a Location (Two Column)
CPH15 Demand Driver
World-Class Four-Season Mountain Destination
Jackson offers two of the top ten national parks in the United States: Yellowstone National Park and Grand Teton National Park, which combined attract nearly eight million annual visitors. Outside of the parks, Jackson is known as one of the best skiing and outdoor adventure destinations in the world.
Demand
Historical RevPAR growth of 7% with approximately eight million in annual visitation from Yellowstone and Grand Teton National Parks, two of the top 10 most visited National Parks in the country.
Supply
Historical supply growth of 1% with no developments in the pipeline.
Renovation Scope
The property is undergoing a comprehensive renovation that includes upgrading guestrooms, bathrooms, public spaces, pool, restaurant and two bars.
CPH16 Property Photos
CPH17 Contact Methods
For Prospective Investors
CPH18 Company Location
New York Office
West Village
Leroy Street, 9th Floor
New York, NY 10014
Utah Office
Park City
136 Heber Avenue, Suite 206
Park City, UT 84060
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Module List
CPH20 Job Application
Position Summary
We are looking for a hungry, analytical, and commercial Associate of Growth & Strategy to manage strategic growth initiatives and special projects across our two businesses, Trailborn and Castle Peak. This person will report directly to the Co-CEOs. The right candidate will draw from investment banking or private equity experience in the hospitality industry. This role works with both internal and external teams and reports to our Co-CEOs.
Responsibilities
New Acquisitions:
- Lead early-stage data collection and pipeline screening work, building financial models, analyses, and investment memos to forecast returns and drive investment decisions
- Lead in-depth market and asset diligence, with the ability to independently price risk/reward and provide conclusions and recommendations
- Responsible for due diligence and material creation through the acquisition lifecycle
- Create and coordinate analytical support for financing processes and debt capital decisions
- Lead the financial modeling of various capital structures and financing outcomes
- Oversee creation of marketing materials and interface with third-party advisorsSupport Deal Quarterbacks, Asset Management, and Development through business plan execution, across capex and strategic operational initiatives
Asset Management:
- Support Deal Quarterbacks, Asset Management, and Development through business plan execution, across capex and strategic operational initiatives
Stakeholder Reporting:
- Lead quarterly mark-to-market meeting presenting Quarterly Scorecards for each project to Investment Committee
- Responsible for maintenance and update of master models, working closely with other disciplines to synthesize inputs across the platform
- Support Capital Formation on fundraising material creation and objectives for equity
Required Qualifications
- 2+ years of real estate banking, or hotel acquisitions and development experience
- Experience managing real estate transactions with multiple stakeholders through deal lifecycles
- Detail-oriented, analytical skillset
- Strong verbal and written communication skills with ability to manage across disciplines
- Strong investment, development, and hospitality acumen
- High degree of intellectual curiosity
- Experience building complex financial models and multi-tiered waterfalls
- Resourceful problem-solver with a results-oriented approach
- Motivated, flexible and ready to dive into any issue to execute and deliver a standard of excellence across workflows
- Willingness and ability to travel
Benefits Include
- Hybrid work culture
- Paid employee health benefits
- Travel opportunities
- Company offsites
CPH21 Contents
1. Introduction
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2. Information We Collect
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We may collect:
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3. How We Use Your Information
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4. Sharing of Information
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5. Data Retention
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6. Your Rights
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7. Security
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8. Changes to This Policy
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9. Contact Us
If you have any questions about this Privacy Policy, please contact us at:
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Address: 1234 Ipsum Street, Dolor City, Sit Amet 56789
