Denver, Colo.—HREC Investment Advisors has arranged the sale of the 65-guestroom Holiday Inn Express and the 70-room Hampton Inn, both located in Glenwood Springs, Colo. Terrapin Investments and Management Corp bought the properties and will also manage the hotels. Both hotels are expected to undergo renovations.
The properties are located in the heart of Glenwood Springs, a year-round tourist destination in western Colorado best known for its famous hot springs of the same name. Just 45 minutes from Aspen, Glenwood offers a variety of year-round outdoor activities for adventure enthusiasts and families alike. The town recently completed a major transportation infrastructure improvement and bridge replacement—the largest such project in western Colorado in over 25 years—which will significantly enhance traffic flow throughout Glenwood Springs.
“The Hampton Inn and Holiday Inn Express are ideally branded hotels for the predominately leisure-oriented travelers visiting Glenwood Springs, and provide management economies of scale given their adjacent location,” says Jeffrey Duni, senior vice president in HREC’s Denver office. “As tourism throughout Colorado continues to grow, the expected renovations to both hotels will offer high quality guest accommodations and support the overall improvement to Glenwood’s tourism experience.”
Duni along with CEO and HREC Founder Michael Cahill exclusively represented Stonebridge Companies during the transaction. Founded in 1991 by Navin C. Dimond, Stonebridge Companies is a privately-owned hotel owner, operator, and developer headquartered in Denver. The company’s current portfolio comprises more than 50 hotels with more than 10,000 guestrooms nationwide.