Almost three years to the day of its grand opening, the founders of The Pad Silverthorne, Lynne and Rob Baer, are leaving their boutique hotel and hostel.
Their lender is foreclosing. Tomorrow, Nov. 27, is their last day as owners.
“We’ve been trying so hard to save The Pad and come to a deal with the lender, and it just never worked out,” Lynne Baer tells Krystal 93 news director Phil Lindeman.
This foreclosure comes five years after breaking ground and one year after declaring bankruptcy.
“I remember walking through the hallways with (Phil Lindeman) when it was just the steel frame and showing (him) what it was going to be,” Lynne Baer says. “That was our vision for everything.”
When first announced in 2018, the Baers promised something new to Summit County – a combination hotel and hostel built with shipping containers.
The first shipping containers arrived in 2019. Rob Baer believes timing was always against them.
“When we broke ground, COVID happened three months later,” Rob Baer says. “So pretty much any sort of budget or timeline went out the window.”
Rob Baer says they almost revived The Pad several times. They were working with a small, Denver-based lender, until it was purchased by a larger lender based in Manhattan.
“The problem was, once again, we had a unique property and we didn’t fit inside traditional lenders boxes,” Rob Baer says.
In 2023 the Baer’s briefly managed and branded a location in Costa Rica.
The Pad Silverthorne remains open this winter under new management and possibly a new name.
Lynne says this might be the end of their ownership in Silverthorne, but this is not the end of their vision.
“This chapter might be closing, but we’re keeping the spirit alive,” Lynne Baer says. “The dream of this is worth pursuing.”
Lynne and Rob invite you to The Pad Silverthorne tomorrow, Nov. 27, for a farewell celebration at 7 p.m.