A nearly 100-year-old property in Bozeman, Montana, is returning to its original purpose as a boutique hotel, with an opening anticipated for fall 2027.
The owners of the seven-story landmark Baxter Hotel are teaming up with Noble House Hotels & Resorts and Breakwater to convert the current residential property, which also features ground-floor retail, into a 32-key luxury boutique hotel, according to a news release obtained by Hotel Dive.
Situated in downtown Bozeman, the Art Deco property first opened in 1929 as lodging for those visiting the state’s major center of commerce. It operated as a hotel for about 50 years before a former developer decided to convert it into condominiums in the 1980s.
Now, Kirkland, Washington-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 a palpable history and significance within its walls,” said Jamie Colee, CEO of Noble House Hotels & Resorts, in a statement. The hotel has hosted notable guests over the years, including Eleanor Roosevelt and Richard Nixon.
The forthcoming restoration aims to honor the hotel’s “century-long legacy through uncompromising standards and genuine connection to Bozeman and its residents,” per the release. In addition to the 32 guest rooms, the hotel will include a fitness center with a cold plunge tub and infrared sauna, recovery room and treatment room, a members’ club and an updated dining area.
The rehab 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 been walking through these doors asking how they can check in — even over the past 50 years when The Baxter Hotel was no longer operating as a hotel.”
“That’s the kind of magnetism you can’t contrive,” Horton said.
The Loseff and Orizotti families, who both hail from Montana, have owned the hotel since 2004 and will continue to be majority owners of the property once it reopens.
“The opportunity to partner with the Colee family (Noble House) and Breakwater in reestablishing this landmark as our town’s premier boutique hotel is the realization of many years of hard work,” David Loseff, co-owner of the hotel, 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 spanned 29 luxury and upscale hotels that emphasize emotional connection.
Luxury continues to dominate the hotel market, with luxury RevPAR increasing by 3% year over year in 2025, according to a recent JLL report, which also highlighted that high-net-worth individuals are becoming more involved in the hotel space. Additionally, conversions remain a popular choice for developers as they tend to outweigh the costs of new construction.
