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Springs Hotel LLC Finalizes $2.8 million Purchase of the Park Plaza, Colorado Springs;
Will be Renamed the SilverWood Hotel and Conference Center and
Undergo $400,000 Renovation

By Jim Bainbridge, The Gazette, Colorado Springs, Colo.
Knight Ridder/Tribune Business News 

March 30, 2006 - Springs Hotel LLC finalized its $2.8 million purchase of the Park Plaza on Thursday and immediately went to work on freshening up the Garden of the Gods hotel’s image. 

It will be rebranded the SilverWood Hotel and Conference Center — the sign goes up Tuesday — and will undergo a 45-day, $400,000 renovation that will replace all carpets, beds and banquet chairs in addition to fixing the roof. 

“Right now the emphasis is to refresh the look of the hotel and put it together again, make it presentable after years of a sort of tired look,” said Dawson Hubert, who heads the nine-person Springs Hotel LLC partnership group. 

The in-house Morgan Steakhouse will shortly be converted to a Western-themed restaurant and saloon. The public is being invited to suggest name changes through May 10 and the winning entry will receive $1,000. 

With 11,000-square-feet of meeting rooms available, there will be a heavy emphasis on group bookings at the SilverWood — whether corporate, tour or reunion. 

All guests will receive free Internet access, a cooked-to-order Western breakfast and a two-hour daily cocktail reception in that yet-to-be-named Western saloon as part of their room rate. 

“We’re looking to liven things up, create a high energy place for our guests and for people who want to come for dinner or drinks after work,” Hubert said. “We’re starting karaoke (tonight) and will have it every Friday and Saturday night through April. 

“The model we’re concentrating on is a hotel priced right. This hotel has gone through major (corporate) flags and it’s ready for independent operation. We want to be the hometown hotel, a center for activity on the Garden of the Gods corridor.” 

Room rates will be $10 to $20 less than other full-service hotels in the area to attract higher traffic. 

It is a model the Springs Hotel partnership hopes to export to other second-tier cities in the Western states in the years to come under the SilverWood brand, Hubert said. 

San Diego-based American Property Management paid $2.81 million to buy the hotel in 2004, taking it over from Holiday Inn. The hotel received national attention in 2001 when the last two at-large members of the Texas Seven gang were apprehended there. 

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To see more of The Gazette, or to subscribe to the newspaper, go to http://www.gazette.com.

Copyright (c) 2006, The Gazette, Colorado Springs, Colo.

Distributed by Knight Ridder/Tribune Business News. For information on republishing this content, contact us at (800) 661-2511 (U.S.), (213) 237-4914 (worldwide), fax (213) 237-6515, or e-mail reprints@krtinfo.com. 



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