Chatham Lodging Acquires Denver HGI
Thursday October 3rd, 2013 - 9:54AM EHO
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DENVER—Chatham Lodging Trust acquired the 180-room Hilton Garden Inn Denver Tech Center for $27.9 million.
This is the first Hilton Garden Inn in the company’s portfolio.
Converted to the brand in October 2008, the hotel is located at the Denver Tech Center, which has more than 25 million sq. ft. of office space and is home to more than 1,000 companies, including Oracle, Newmont Mining, EMC Corp. and IBM.
The hotel features 3,600 sq. ft. of meeting space; a restaurant and bar; Starbucks kiosk; and an indoor pool.
In 2014, the hotel’s lobby will be restyled with the brand’s Project Grow design and the rooms will receive a soft-goods renovation.
Island Hospitality Management manages the hotel.
Tags: Chatham Lodging Trust • Island Hospitality Management • Denver • Colorado • Hilton Garden Inn Denver Tech Center • Hospitality • Acquisitions • Ownership • Management Companies •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.