Denver Residence Inn changes hands

George Sell By George Sell
1 week ago | Updated 1 week ago

US: Orlando-based Xenia Hotels & Resorts Inc. has sold the Residence Inn by Marriott Denver City Center for $92 million.

The hotel, which is located at 1725 Champa Street, two blocks from the 16th Street Mall in the Central Business District, has 228 suites. The sale price equates to $403,500 per key

The buyer was Atlanta-based Noble Investment Group, which has been steadily acquiring extended stay properties over the last year.

Xenia purchased the 13-storey Residence Inn in April 2013 for $80 million, and completed a $6.2 million renovation in 2018. The company also owns the nearby Hotel Monaco and recently bought The Ritz-Carlton in Denver.

Xenia CEO Marcel Verbaas, said: "While we view Denver as a core market for the company, our recent acquisition of The Ritz-Carlton allowed us to further reduce our select-service holdings through the sale of this hotel."

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