Denver to Consider Rapid Activation of Commercial Streets
By Katie Rapone, editor, Mile High CRE In a letter to Mayor Michael Hancock, the Downtown Denver Partnership has proposed plans to temporarily shut down streets in nine of Denver’s popular neighborhoods, to allow retail and restaurants to utilize sidewalk and street space during the pandemic. According to the DDP, …
Breckenridge Grand Vacations Sets New Standard of Cleanliness
In the wake of the COVID-19 pandemic, Breckenridge Grand Vacations (BGV) owners, Mike Dudick, CEO, and Mike Millisor, immediately sought out the best new solution that would largely eliminate the possibility of human error from a consistent clean, to ensure the safety of owners, guests and employees at their resorts in …
Hospitality, Retail Industries Most Impacted by Coronavirus
As the current crisis impacts the worldwide economy, it is the often far-reaching chains of supply sustaining many industries that have been hurt the most. As personal and business travel has come almost to a halt, the food, manufacturing, retail, hospitality and airline industries have felt disruptions associated with the …
HREC Investment Advisors Announces Sale of Residence Inn Durango
The 66-guestroom Residence Inn located in Durango has sold to an unnamed regional owner/operator of premium-branded select service hotels. HREC Investment Advisors along with Lodging Partners represented the private seller on this transaction. The marketing and negotiations were led by Jeffrey Duni, senior vice president in HREC Investment Advisors’ Denver office …
CBRE Updates 2020 Hotel Outlook
CBRE has updated its 2020 Hotel Outlook amidst the Covid-19 pandemic. While outbreaks of several forms of transmissible viruses such as SARS, Ebola, and H1N1 (Swine Flu) took a large human toll, they were not as impactful on the paid accommodation industry as the COVID-19 virus. CBRE expects GDP growth …
Interest Rates Hit All-Time Low as Coronavirus Spreads
While the coronavirus will weigh on the U.S. economy in the first quarter, growth should be sustained. According to the Marcus & Millichap special report on the virus outbreak, expectations of weaker exports, reduced tourism and supply chain-related shortfalls will moderate the pace of economic growth. However, low unemployment and comparatively strong consumption levels should …
Seven-Hotel Portfolio, Including Hotel Monaco Denver, Sells for $483M
Xenia Hotels & Resorts, Inc. has executed an agreement to sell a seven-hotel portfolio with a total of 1,124 guest rooms for $483 million. The portfolio consists of seven Kimpton-managed hotels, including Hotel Monaco Denver, Canary Hotel Santa Barbara, Hotel Monaco Chicago, Hotel Monaco Salt Lake City, Hotel Palomar Philadelphia, Lorien Hotel & …
Mixed-Use Development in Louisville Coming Summer 2020
South & Main, a new, 10,059-square-foot mixed-use development located at 957 Main Street in Louisville scheduled to be complete summer 2020, is officially available for lease. Molly Bayer, a senior associate with CBRE’s Retail practice in Boulder, is representing the property owner, Barbara Iglesias. Hartronfit is the architect for the …
5 Colorado Hotels Newly Designated with AAA’s Four Diamond Award
Today, AAA Colorado announced that 47 hotels and 19 restaurants in Colorado have been awarded AAA’s Four or Five Diamond Designation — two of the most coveted, well-known, and respected distinctions in hospitality. While four hotels maintained their position in the Five Diamond program, five Colorado properties joined the ranks for the …
Slim Chickens Purchases Lot at Victory Ridge in Colorado Springs
Fast-casual restaurant chain Slim Chickens is opening its first location in the Colorado Springs market at Victory Ridge, the 153-acre mixed-use development located off Interstate 25 and Interquest Parkway. Whitney Johnson, Patrick Kerscher and Jon Weisiger with CBRE are marketing Victory Ridge for retail opportunities and represented the developer, Westside Investment Partners, in the property …