A nearly 100-year-old property in Bozeman, Montana, is returning to its original purpose as a boutique hotel, with a planned opening in the fall of 2027.
According to a press release obtained by Hotel Dive, the owners of the iconic seven-story Baxter Hotel are teaming up with Noble House Hotels & Resorts and Breakwater to convert the current residential property, which also includes ground-floor retail, into a 32-key luxury boutique hotel.
Located in downtown Bozeman, the Art Deco property opened in 1929 as lodging for those visiting the state’s premier shopping center. It operated as a hotel for about 50 years before a former developer decided to turn it into condominiums in the 1980s.
Now, Kirkland, Wash.-based Noble House and Miami-based hospitality investment and advisory firm Breakwater plan to begin restoration work sometime this spring, according to KTVH News.
“When you visit The Baxter Hotel, there is palpable history and significance within its walls,” Jamie Colee, CEO of Noble House Hotels & Resorts, said in a statement. The hotel has hosted notable guests over the years, including Eleanor Roosevelt and Richard Nixon.
The upcoming restoration aims to honor the hotel’s “century-old legacy through uncompromising standards and a genuine connection to Bozeman and its residents,” according to the release. In addition to the 32 guest rooms, the hotel will include a fitness center with a cold plunge pool and infrared sauna, recovery room and treatment room, a members’ club and an updated dining area.
The renovation will also include upgrading the hotel’s lobby and its nearly 3,000-square-foot ballroom. Local architecture groups including Intrinsik Architecture, Envi Interior Design Studio and Langlas & Associates Inc. will be involved in the restoration.
In a statement, Amy Horton, general manager of The Baxter Hotel, said that “for almost a century, people have walked through these doors asking how they can check in, even for the past 50 years when the Baxter Hotel was no longer operating as a hotel.”
“That’s the kind of magnetism you can’t make up,” Horton said.
The Loseff and Orizotti families, both from Montana, have owned the hotel since 2004 and will remain majority owners of the property once it reopens.
“The opportunity to partner with the Colee (Noble House) family and Breakwater to re-establish this landmark as our city’s premier boutique hotel is the realization of many years of hard work,” hotel co-owner David Loseff said in a statement.
This project comes about five months after Noble House underwent a rebranding effort and added a $100 million hotel in Arizona to its portfolio. As of September, the group’s portfolio included 29 luxury and luxury hotels that emphasize emotional connection.
Luxury continues to dominate the hotel market, with luxury RevPAR increasing by 3% year-on-year by 2025, according to a recent report by JLL, which also highlighted that high net worth individuals are becoming more involved in the hotel space. Additionally, conversions remain a popular option for developers as they often exceed the costs of new construction.
