Embassy Suites Hotel Changes Hands in Downtown Denver
- Nov 09, 2015
By Ioana Neamt, Associate Editor
Carey Watermark Investors 2 (CWI 2), a non-traded REIT based in New York City, has recently acquired the 403-key Embassy Suites by Hilton Denver – Downtown/Convention Center hotel.
Located directly across the Colorado Convention Center at 1420 Stout St., the 17-story hotel boasts 26,000 square feet of meeting space, 185 underground parking spaces, a full-service restaurant and bar, indoor swimming pool and fitness center, and a Starbucks café. The full-service Embassy Suites opened in December 2010 and was the first LEED Silver certified hotel in the Mile-High City.
CWI 2 plans to undertake a guest room soft goods renovation starting in late 2016. Sage Hospitality of Denver will continue to act as property manager for the hotel.
“The acquisition of the Embassy Suites by Hilton Denver – Downtown/Convention Center allowed us to add a well-located, institutional-quality, full-service property in a strong market to the CWI 2 portfolio,” Michael Medzigian, CEO of CWI 2, said in a statement. “Given the historical strength of the Denver market, as well as the development pipeline for office, residential and retail uses, we are confident that Denver will continue to be one of the country’s leaders in terms of RevPAR growth.”
Image courtesy of Embassy Suites by Hilton Denver – Downtown/Convention Center