One Steamboat Place developer Timbers Resorts has formed a business relationship with a Mexican investment group that purchased the Vail Plaza Hotel.

Ferruco Vail Ventures recently announced that Carbondale-based Timbers Resorts will represent the owner in Vail, and will also manage the real estate operations for the remaining inventory in the property’s 38 fractional-ownership condos.

Ferruco Vail Ventures, a family-run investment group based in Mexico City, assumed ownership of The Vail Plaza Hotel and Club Jan. 20. Timbers has a resort in Cabo San Lucas.

“Timbers Resorts is honored to represent and assist Ferruco Vail Ventures in the positioning of The Vail Plaza Hotel and Club,” said David A. Burden, CEO and founder of Timbers Resorts. “Our vision together is to enhance the amenities, services and overall experience for their owners as well as provide a new boutique hotel experience for the returning visitors of Vail.”

Ferruco Vail Ventures and Timbers Resorts are now looking for a hotel management company to run the property.

Timbers Resorts, founded in 1999, is a developer of small, private, luxury resort properties including private residence clubs, boutique hotels, and club communities. Current Timbers Resorts properties include The Timbers Club in Snowmass; Esperanza in Cabo San Lucas, Mexico; The Rocks Luxury Residence Club in Scottsdale, Ariz.; Castello di Casole in Tuscany, Italy; The Preserve at Botany Bay on St. Thomas in the US. Virgin Islands; One Steamboat Place in Steamboat Springs; The Orchard at The Carneros Inn in Napa, Calif.; The Villas at Rancho Valencia in Rancho Santa Fe, Calif.; and The Links Cottages at Doonbeg in County Clare, Ireland.