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In the largest sale of a Denver-area hotel since the pandemic began, a 461-room property in the Denver Tech Center has changed hands for less than half the price it fetched in 2016.
The Hyatt Regency Denver Tech Center at 7800 E. Tufts Ave. last week sold to HRDTC Hotel Owner LLC, an entity affiliated with Ontario-based Westmont Hospitality Management. The sale price was $41.54 million, according to public records.
That’s a 57 percent drop from when the seller, CP Denver LLC an entity affiliated with Columbia Sussex Management purchased the property. It paid $96 million in September 2016, records show.
DTC hotel sells for less than half of what owner paid in 2016
BusinessDen file)
In the largest sale of a Denver-area hotel since the pandemic began, a 461-room property in the Denver Tech Center has changed hands for less than half the price it fetched in 2016.
The Hyatt Regency Denver Tech Center at 7800 E. Tufts Ave. last week sold to HRDTC Hotel Owner LLC, an entity affiliated with Ontario-based Westmont Hospitality Management. The sale price was $41.54 million, according to public records.
That’s a 57 percent drop from when the seller, CP Denver LLC an entity affiliated with Columbia Sussex Management purchased the property. It paid $96 million in September 2016, records show.
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