Colorado Springs, CO – CBRE Hotels completed another hotel sale on behalf of a joint venture between Sage Hospitality and Whitman Peterson. The 126-room Hyatt House in Colorado Springs, Colorado sold to Schulte Hospitality Group for an undisclosed amount.
CBRE Hotels’ Larry Kaplan and Mark Darrington, senior vice presidents in Denver represented the seller in this transaction.
Mr. Darrington commented, “The Colorado Springs’ hotel market has experienced strong growth over the last 12 months as the local economy has continued to strengthen. The Hyatt House opportunity was deemed attractive by a variety of investors across the country and we wish Schulte Hospitality continued success with the hotel.”
Kaplan and Darrington said this sale, along with another recently closed transaction in Denver, kick-off 2017 much the way 2016 ended. The duo points to a healthy, active hotel investment market that’s being driven by strong fundamentals.
Image courtesy of CBRE Hotels