Hotel Online
News for the Hospitality Executive


 
Hilton, Hyatt, Marriott and Westin Finalists to Bid on
Denver Convention Center Hotel Project
By Mark P. Couch, The Denver Post
Knight Ridder/Tribune Business News 

May 23--Four hotel operators survived the first cut for the chance to run Denver's proposed convention center-hotel. 

Denver Mayor Wellington Webb announced Wednesday that the Hilton, Hyatt, Marriott and Westin were selected to submit bids to run the hotel that Denver officials want to build on a site near the Colorado Convention Center. 

City officials expect to pick two finalists in June. 

The final four were selected based on their experience running convention-center hotels, the size of their reservation systems and their understanding of the financial structure proposed by the city. 

Each of the hotel operators also acknowledged the city's request to include small businesses and unions in the process. The operators also agreed they would participate in the financing of the hotel. 

Webb is proposing the creation of a city-affiliated nonprofit company that would issue tax-exempt bonds to pay for the hotel construction. City officials are still in the process of selecting a site and estimating the cost. 

Earlier this year, Webb scrapped an arrangement with private hotel developer Bruce Berger because Berger could not guarantee an opening date. In that deal, Berger proposed an 1,100-room, $285 million Hyatt Hotel on the block bounded by 14th, 15th, California and Welton streets. 

Webb also accepted recommendations from a committee he appointed to hire several consultants to evaluate the financial feasibility of the hotel. 

The firms include HVS to determine the cost of building the hotel, Convention Sports and Leisure to update a study on demand for the convention center and Hospitality Real Estate Counselors as the city's consulting assistant in hiring a hotel operator. 

The city also said it has hired the Kutak Rock law firm to assist with legal matters on preparing bonds for sale. 

Denver officials said they hope to open a convention-center hotel by early 2006. 

-----To see more of The Denver Post, or to subscribe to the newspaper, go to http://www.denverpost.com 

(c) 2002, The Denver Post. Distributed by Knight Ridder/Tribune Business News. HLT, MAR, HOT, 


advertisement

To search Hotel Online data base of News and Trends Go to Hotel.Online Search

Home | Welcome! | Hospitality News | Classifieds | Catalogs & Pricing | Viewpoint Forum | Ideas/Trends
Please contact Hotel.Online with your comments and suggestions.