Tampa, Fla. (July 2, 2015) – The Plasencia Group is pleased to announce the sale of the DoubleTree by Hilton Denver-Westminster hotel, located in Westminster, Colorado. The firm represented Burrus Investment Group, the owner of the 180-room hotel. Hotel Capital, LLC, an Indiana-based real estate investment firm, acquired the property.
“Upon completion of planned improvements, the hotel in this dynamic Westminster-Denver market is expected to continue to outperform the market due to its superior product differentiation and amenities. These improvements will be completed at an ideal time as Colorado enjoys a record number of visitors,” said Joe Corcoran, The Plasencia Group’s Vice President who led the disposition efforts. The Plasencia Group has engaged in projects in twelve states in the first half of 2015 and has served the hotel investment market across North America since 1993.
Hotel Capital will retain the management company, Expotel Hospitality Services. “Expotel’s management kept this asset performing at top efficiency and will be the driving force for its repositioning of further value growth,” commenented Expotel’s President and Chief Operating Officer, Kerry Ranson.
The DoubleTree is ideally situated off highway US-36, the major thoroughfare between downtown Denver and Boulder, two of the major business and leisure destinations in Colorado. The hotel is nearby the regional offices and national headquarters to a number of top U.S. companies that consistently generate demand for lodging in the Westminster area.