CREJ - page 98

Page 18B — COLORADO REAL ESTATE JOURNAL — June 15-July 5, 2016
HOSPITALITY
D owntown Denver is home to
32 hotels with over 9,100
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 2015 the occupancy rate was
77.8% with an average daily
room rate of $179.45. The strong
performance of hotels continues to
spur new development.
There were two projects that
completed construction in 2015.
White Lodging completed their
dual branded Hyatt House & Hyatt
Place, a 21 story, dual brand, 361
room hotel located at 14th and
Glenarm. The 9 story Art Hotel,
located at 12th & Broadway, added
165 rooms to the market when
it welcomed its first guests in the
summer of 2015. Seven new
hotel projects are currently under
construction. They include the dual
brand Le Merdien & AC, a 22
story, 488 room hotel being built
at 15th & California. There is also
Hotel Born, a 12 story, 200 room
hotel being developed at 16th &
Wewatta. There is also The Maven, a
7 story, 170 room property is under
construction and part of the Dairy
Block development. Combined these
projects will add 1,336 additional
rooms when they are completed.
There are also an additional nine
hotel projects that are planned
or proposed that would add an
additional 1,294 rooms which would
bring the number of hotels to 48
and increase the overall room count
to 11,730.
Image courtesy of DenverInfill
Fairfield Inn & Suites, a 5 story, 87 room hotel under construction in Highland.
Images courtesy of White Lodging
Le Meridien & AC Hotel, a 21 story, 480 room dual brand hotel under construction at the corner of 15th & California.
Fairfield Inn (Lower Highland)
Le Meridien & AC Marriott