Denver-based Stonebridge Hospitality paid $15.5 million for a 193-room hotel near the Denver International Airport Inn & Suites, officials announced today.
Stonebridge’s purchase of the Country Inn & Suites by Carlson at 4343 Airport Way, equates to $80,311 per key.
The seller of the 6-story hotel was the Sand Cos. Inc. of Minnesota.
Stonebridge plans to completely renovate the hotel. The hotel was designed by Denver-based Studio PBA.
It also will change the flag.
Stonebridge will convert the hotel into a Courtyard by Marriott. It will offer the latest Courtyard Generation Six interior design finishes and amenities.
Atlanta-based Hunter Hotel Advisors acted as the exclusive agent for the transaction.
“We had tremendous buyer interest due to the hotel’s prime location next to one of the busiest airports in the U.S.,” said Teague Hunter, president of Hunter Hotel Advisors. “Stonebridge took advantage of this opportunity to continue to invest in Denver which has been an industry leader in occupancy and ADR (average daily rate) growth for the past few years.”
