Jones Lang LaSalle Hotels has been selected to exclusively market for sale the 183-room Loews Denver Hotel on behalf of Loews Cherry Creek Hotel Corporation.
The Loews Denver Hotel represents a fee-simple acquisition opportunity unencumbered by management and franchise agreements, presenting an excellent opportunity for an owner to create or further enhance a Denver presence. In addition, investors will benefit from a market recovery and the opportunity to implement capital improvements which will enable the hotel to drive greater future profitability.
“Investors should be motivated by various repositioning strategies for this hotel including rebranding the hotel or embracing an independent boutique concept which has proven successful in numerous other Denver locations over the past decade,” said John Strauss, executive vice president for Jones Lang LaSalle Hotels. “Furthermore, the repositioning opportunity of this hotel is enhanced by its appealing physical features including a prominent high-rise tower, large guestrooms with an average size of 370 square feet, 5,000 square feet of meeting space, and two food and beverage outlets.”
“Due to its superb central U.S. location and benefiting from its status as a national transportation hub, Denver has emerged as one of the most livable and high profile cities in the United States, attracting major new businesses and spurring significant population growth in recent years,” said Arthur Adler, managing director of Jones Lang LaSalle Hotels. “The property benefits from a location near Downtown Denver and the high-end and vibrant neighborhood of Cherry Creek. In addition, the location promotes a healthy mix of demand being proximate to numerous nationally known medical centers, University of Denver and large companies such as AON, Starbucks and PCL Construction.”