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Offering Summary
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HREC Investment Advisors, in conjunction with RealINSIGHT Marketplace, is pleased to offer for sale the 242-room Sheraton Denver West (herein referred to as the “Hotel” or “Property”) located in the thriving West Denver Metropolitan suburb of Lakewood, Colorado.
The Sheraton Denver West has historically been the leading hotel in west metro Denver in accommodating convention and corporate group meeting demand. However, during the initial stages of pandemic recovery in 2021, the Hotel has pivoted to a more diversified sales approach attracting a variety of demand segments including leisure transient and SMERF groups. Summer 2021 (June - August) achieved 68% occupancy at $128 ADR for RevPAR of $87. As a result, the Hotel has established a new base of demand that will serve the Property well going forward as the more traditional demand segments, particularly Federal Center government-related, and corporate group/transient, return to prominence.
The Hotel is strategically located just south of US Highway 6, between metro Denver’s major freeways of I-25 and I-70. Directly adjacent to the 623-acre Denver Federal Center campus, which hosts the largest concentration of Federal agencies outside of Washington, D.C., and near Lockheed Martin and numerous other business parks, the Sheraton Denver West is the area's primary convention and corporate hotel. The Property is also located one block from St. Anthony Hospital, a large medical facility within The Centura Health Network. The Hotel is conveniently positioned to capture nearby leisure demand from attractions such as Red Rocks Amphitheater, Bandimere Speedway, and a multitude of wedding venues. The Property's location allows for easy access to all of downtown Denver's attractions, downtown Golden, and the recreational opportunities in the nearby foothills of the Rocky Mountains and beyond.
Recent capital expenditures were focused on back-of-house, HVAC, infrastructure, and other building systems. As such, the current PIP can be designed in accordance with the new owner’s wishes to meet the latest in traveler preferences and needs in the guestrooms and public areas. When completed, the PIP will enable the Hotel to capitalize on the return of corporate transient and group demand.
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
