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Red Lion Roars Back With Renovation

DENVER-The $12 million spent by Toronto investor Abdul Lakhani to renovate the Red Lion Hotel is more than twice he paid for a struggling former Holiday Inn in 1999 after Stapleton International Airport closed.

By John Rebchook | Updated on July 23, 2001

DENVER-Toronto investor Abdul Lakhani completed a $12-million renovation of the Red Lion Hotel across from the former Stapleton International Airport, which Forest City is developing into a multi-billion, mixed-use community. Lakhani bought the struggling property, then a Holiday Inn, in 1999 when the “hotel corridor” along Quebec Street across from the former airport was reeling from the loss of airport business.

At time, he paid $5 million for the hotel, less than half the cost of the recent renovation. The renovation added 15,000 sf of meeting space to the 300-room hotel. He also substantially upgraded common areas.

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