DENVER—Carey Watermark Investors has acquired a 302-room, dual-brand select-service hotel, located in Denver's Central Business District. The firm's total investment in the property is approximately $85 million.
“The acquisition of the Hampton Inn & Suites/Homewood Suites by Hilton Denver Downtown/Convention Center represented the opportunity to invest in a newly redeveloped, quality dual-branded hotel with strong brand affiliations in a strong domestic market,” said Michael Medzigian, CEO of Carey Watermark. “Given these attributes, we believe that the investment will be a solid cash flow-generating addition to our growing portfolio.”
Key facts of the deal include:
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
