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 and Ford Barton of Lodging Partners.
“Durango is an exceptional tourist destination with diversified demand drivers that provide for consistent year-round visitation. The buyer was keen to capitalize on their existing management infrastructure in the area and create a regional hub for their portfolio,” said Jeffrey Duni, senior vice president HREC Investment Advisors.
Durango is a quintessential mountain town located in the Animus River Valley at an elevation of 6,512 feet and surrounded by the rugged peaks of the beautiful San Juan range of the Rocky Mountains. Durango attracts numerous visitors throughout the year due to its diverse corporate employment base and numerous historic sites, outdoor activities, and special events. The Residence Inn Durango is well situated proximate to all major demand generators benefitting from a strong and diverse base of growing year-round demand.
Photo courtesy of HREC