Denver-Area Hotel Changes Hands
- Aug 21, 2018
A Hotel Brokers International member brokered the sale of the 130-key Rodeway Inn in Estes Park, Colo. Ascent Real Estate worked on behalf of both the seller and the buyer in this transaction. The new owner plans a multimillion-dollar renovation, including rebranding the property. According to Larimer County records, a private individual sold the 1975-built hotel for $5 million.
Located at 1701 North Lake Ave., across from Lake Estes and 4 miles east of the entrance to Rocky Mountain National Park, the hotel spans across more than 88,000 square feet. Rodeway Inn is minutes away from the area’s most popular attractions. More than four million tourists visit the region every year.
Brett Morganti, managing broker at Ascent Real Estate, facilitated the deal. At the beginning of the year, another Hotel Brokers International member closed the sale of Best Western Plus Hotel and Conference Center in La Porte, Ind., for $4.5 million.
Image courtesy of Ascent Real Estate