CHARLOTTE, North Carolina, and CHICAGO, Illinois—Barings and Waterton announced a joint venture to recapitalize two existing Outbound Hotels, The Virginian Lodge in Jackson, Wyoming, and Outbound Stowe in Stowe, Vermont.
This announcement follows the partnership’s earlier acquisition of the Poco Diablo Resort in Sedona, Arizona, which will be rebranded as Outbound Sedona, slated to open in the second quarter of 2026. The three properties are part of Waterton’s hospitality brand Outbound Hotels, a collection of lifestyle hotels and experiences located in outdoor destinations across the United States.
“The Virginian Lodge and Outbound Stowe are two exceptional lifestyle hotels where we see an opportunity to add value and expand their audience, all while preserving what makes them special,” said Stuart Turner, managing director, hotel group, U.S. Real Estate at Barings. “As travelers continue to seek out unique destination hotels located close to their favorite outdoor activities, we believe our investments with Outbound in Jackson, Stowe, and Sedona are positioned to benefit from long-term trends in travel and leisure.”
The Virginian Lodge is a 165-key hotel situated at the heart of Jackson Hole, offering access to a range of outdoor attractions, including hiking, climbing, fly fishing, skiing, and two national parks, Grand Teton and Yellowstone. Outbound Stowe is a 76-key hotel offering access to New England’s top ski resorts and four-season activities in Vermont’s Green Mountains. The investment from Barings will enable Outbound Hotels to enhance and expand amenities while maintaining the features that make these properties unique destinations.
“With Barings’ partnership and investment in The Virginian Lodge, Outbound Stowe and the soon-to-open Outbound Sedona, we’re strengthening the collection in a way that supports each property’s character and long-term potential,” said Matthew Mering, executive vice president, hospitality at Waterton and co-founder of Outbound Hotels. “Our focus remains on creating hotels that are rooted in place and connected to the outdoors, and we’re excited to continue growing thoughtfully alongside Barings and CoralTree Hospitality.”
The Virginian Lodge and Outbound Stowe mark Barings’ second and third investments in Waterton’s Outbound Hotels collection, the first being their acquisition of the Poco Diablo Resort in Sedona, Arizona, in December 2024. A large-scale renovation of the resort is currently underway, including revived guest rooms, expanded amenities, a new restaurant, and a new pool complex that includes a two-tiered pool, hot tubs, and firepits. The resort is slated to reopen as Outbound Sedona in the second quarter of 2026. Management of Outbound’s portfolio, including the Virginian Lodge, Outbound Mammoth, Outbound Stowe, Outbound Sedona, and Outbound Yosemite, is exclusively overseen by CoralTree Hospitality as part of the companies’ strategic partnership.
