CBRE Hotels is soliciting offers offers to acquire the fee-simple interest in the Corporate-Owned La Quinta Inns & Suites in Denver Lakewood, Colorado. Located off Highway 285, the hotel provides convenient access to Downtown Golden, The University of Denver, Denver International Airport, Red Rocks Park and Amphitheatre, and Mile High Stadium. Thanks to its prime location, the hotel receives business from a diverse population of both corporate and leisure segments.
- Corporate-Owned La Quinta Inns & Suites - Opportunity to acquire a corporate-owned, 128-room, five-story, La Quinta Inns & Suites in Southwest Denver, Colorado.
- Management Upside - The La Quinta will be delivered unencumbered of management. Due to the current operator’s national scale and substantial allocation for corporate overhead, this project presents significant potential upside for a more hands-on operator through more focused revenue management strategies and reduction in corporate allocated expenses.
- Diverse Demand Drivers - Located off Highway 285, the hotel is in proximity to the area’s major demand generators, including the University of Denver, Colorado Railroad Museum, Mile High Stadium and Southwest Plaza. In addition, the hotel is just a 10-minute drive from the world-famous Red Rocks Park and Amphitheatre. Hosting thousands of concerts and events over the past 75 years, this amphitheatre is known as one of the top-grossing and most attended concert venue of any size, for 2021.
- PIP Cap - Per Section O of the Wyndham Franchise Agreement, there is a favorable PIP cap in place that is transferable to the Buyer. Following this capped PIP, there is then a 6 year PIP holiday.
- Strong Market - The hotel is located near Downtown Denver, which is home to some of the city’s most historic sites and has been the main center for commercial, financial, and entertainment businesses. With Colorado becoming a popular place to live in the United States, Denver has seen rapid growth throughout the past few decades. Thanks to its favorable weather, a thriving cultural scene, diverse neighborhoods and natural beauty, Denver and its surrounding area is the perfect place for short and long-term visits.
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