Back in August I posted about the sale of the Adam’s Mark hotel (16th & Tremont) and its eventual conversion into a Sheraton. On Friday the Post ran a very brief (was hoping for a lot more detail) story about the conversion. I did some sleuthing and found the actual corporate press release the story was based on that was picked up by Yahoo and Forbes. Back in August the company acquiring the hotel was Oxford Lodging Advisory and Investment Group, LLC. Since then they have changed their name to Chartres Lodging Group.
The details released are really amazing, our Adam’s Mark was part of 4,867 room portfolio with other locations in Dallas, St. Louis and Indianapolis. The Adam’s Mark Denver will undergo a $70 million renovation during its rebranding. According to the press release, the rebranding into a Sheraton will be complete by spring of this year. Renovations will take 18 months and involve 1,225 rooms, two lobbies, common areas and meeting spaces, I suspect the renovations will be focused on the interior. Saturday’s Rocky piece had some quotes from a Starwood executive with further details from hotel consultants.
Although I would love to see some changes to the mall frontage retail spaces - looking very tired and outdated - I am not going to hold my breath. Don’t get me started on the older tower - gross! I really enjoyed the quotes from the press release:
“Chartres Lodging was afforded the unique opportunity to acquire large, convention-oriented hotels in the heart of five premier leisure and convention visitor markets offering extraordinary growth potential,” explained Maki Nakamura Bara, Chartres Lodging co-founder and managing partner.
“Given the cost and scarcity of comparable downtown development projects, we jumped at the chance to strengthen the strong hospitality legacy originally developed in these markets by HBE owner Fred Kummer.”
While this project will not come on line by the DNC this investment on the 16th St. Mall is huge. I really hope they can breath some life into the upper end of Downtown. I for one will not miss the hideous chandeliers, tacky wallpaper and the old school carpet.