Palm Tree Crew Buys Carbondale's River Valley Ranch for $24.5 Million

Myles Shear has a new playground in Carbondale. The co-founder of Palm Tree Crew, backed by pop star Kygo, just bought River Valley Ranch. The deal closes at $24.5 million for the 187-acre championship course in the Crystal River Valley.

This isn’t a hobby purchase. Shear sees this as the start of a broader strategy for Palm Tree Crew, which he founded with Kygo. The goal is to turn a standard round of golf into a full-day event. They are pairing the course with Major Food Group’s restaurants and Palm Tree Crew’s lifestyle programming. 8K Capital is providing the long-term investment vision.

The partners announced the acquisition Tuesday. They listed the property at $24,500,000. That price tag reflects more than just the grass and dirt. It covers robust amenities and a location that locals already value. The course currently operates as a pay-to-play public facility. That model won’t disappear, but it will change.

Shear called the move a “natural extension” of Palm Tree Crew’s story in Aspen. He noted that both Aspen and golf are central to the brand. The new owners want to elevate the experience without losing what makes the course beloved. They plan to combine world-class golf with Major Food Group’s hospitality and 8K Capital’s capital.

Jeff Zalaznick, co-founder of Major Food Group, sees this as an evolution, not a revolution. He told the Post Independent that exceptional hospitality is rooted in a strong sense of place. Golf is new for his company, but the approach to food, service, and design remains the same. Zalaznick said they look forward to creating a dining experience tailored to the Roaring Fork Valley.

The press release from the partners outlines specific economic goals. They want to activate the site as a driver for regional growth. More visitors mean more money for local luxury hospitality and residential markets. The partners believe this will lift the long-term profile of the surrounding community.

Make no mistake, this is a high-profile entry into Western Slope real estate. Kygo’s involvement brings attention. Major Food Group brings a track record of successful venues in New York and beyond. 8K Capital brings the deep pockets required to hold an asset of this size through market cycles.

The current operation serves locals who pay to play. The new owners want to serve visitors, too. They are building a social calendar meant to outlast the final putt. This suggests more events, more dining, and potentially higher costs for those who want access to the new offerings.

The partners did not specify how much of the $24.5 million went to the land versus the structures or existing contracts. They did not detail what changes Major Food Group will make to the menu or layout. They did not explain how the pay-to-play model will be adjusted for current regulars.

Shear said they are proud to take on stewardship of one of the Roaring Fork Valley’s premier golf destinations. He emphasized community contribution. Zalaznick focused on catering to the destination while serving the local community.

The short version: River Valley Ranch is no longer just a place to hit balls. It’s becoming a lifestyle hub. The money is there. The partners are ready. Now they have to execute.

Locals will watch closely to see if the price of admission rises with the prestige. The course is open for business at rvrma.org/golf.