CREJ - Journal

March 18-March 31, 2015 —

COLORADO REAL ESTATE JOURNAL

— Page 17C

owntown Denver is home to

27 hotels with over 9,332

hotel rooms. This represents

almost 22% of the hotel rooms in

the entire ten-county Metro Denver

region. Demand for Downtown Denver

hotel rooms remains high, with hotels

enjoying rising occupancy and room

rates. As of fourth quarter of 2014 the

occupancy rate was 78.2% with an

average daily room rate of $171.86.

The strong performance of hotels

continues to spur new development.

There were three projects that

completed construction in 2014.

Starwood completed their Aloft hotel

on 15th St. and is a 6 story, 140

room development. The Renaissance

by Marriott that is in the former

Colorado National Bank building on

17th St. opened in May with 230

rooms and a lobby featuring murals by

Alan True. The Crawford Hotel opened

in the upper floors of the north and

south wing of Denver Union Station

and delivered 112 rooms when it

opened in July. Two new hotel projects

are currently under construction. There

is the Hyatt House & Hyatt Place, a

21 story, dual brand, 361 room hotel

being built at 14th and Glenarm. There

is also The Art Hotel, located at 12th

& Broadway, which will be 9 stories

and add 165 rooms to the market

when it is completed later in 2015.

Combined, these projects have added

482 rooms and will add an additional

526 new rooms to Downtown’s hotel

market when they finish construction

later this year. There are also an

additional three hotel projects that are

planned that would add an additional

850 rooms which would bring the

number of hotels to 32 and increase

the overall room count to 10,708.

Image courtesy of Continuum Partners

Kimpton Hotel, a 12 story, 200 room hotel planned at the corner of 16th & Wewatta scheduled to break ground in 2015. – Image courtesy of Continuum Partners

Images courtesy of White Lodging

Le Meridien & AC Hotel, a 21 story, 480 room dual brand hotel planned at the corner of 15th & California scheduled to break ground in 2015.

Kimpton Hotel

Le Meridien & AC Marriott

HOSPITALITY