Cushman & Wakefield announced that it represented TRIFECTA HOTEL D OWNER, LLC, in the sale of the Renaissance Hotel, located in Denver, Colorado, to a privately owned company with offices in Southern California and Hong Kong.
Situated directly between the Denver International Airport and downtown Denver, easy access to Interstate 70, the property offers a universally convenient location catering to numerous sources of lodging demand.
The Renaissance features 400 spacious guestrooms, including 11 suites, and approximately 30,000 square feet of meeting and function space, inclusive of its 11,700-square-foot Colorado Ballroom, capable of accommodating 1,500 guests. The hotel’s Executive Meeting Center is certified by the International Association of Conference Centers and contains 22 flexible conference and banquet rooms that can be configured to accommodate any event.
“We received overwhelming interest at a global level, due to the property’s exceptional performance and quantifiable upside potential fueled by the recent developments within the Stapleton neighborhood,” said James Escarzega, a Cushman & Wakefield Managing Director who brokered the deal.
In addition to being in immediate proximity to downtown Denver and the 15th busiest airport in the world, the Hotel is surrounded by various Fortune 500 companies. The high-growth Stapleton neighborhood, in which the Hotel is located, remains one of the most desirable areas within Denver for corporate relocations and expansions. One such example is the 466,000 square foot expansion of Enterprise Business Park, located less than three miles from the Hotel. Moreover, the Hotel will benefit tremendously due to the completion of FasTracks’ East Corridor light rail line in 2016.
James Escarzega, Steve Michels and Stephanie Tsai of Cushman & Wakefield’s Global Hospitality group represented the seller in the transaction.