The Hampton Inn & Suites Denver Downtown at 19th Avenue and Sherman Street sold last week for $27.43 million. (Burl Rolett)
A hotel just outside downtown changed hands as part of a nine-figure hospitality portfolio sale last week.
Magna Hospitality Group bought the 148-room Hampton Inn & Suites Denver Downtown at 19th Avenue and Sherman Street last week for $27.43 million, Denver city records show. The hotel was part of a four-property package that Xenia Hotels & Resorts sold for a combined $119 million.
The hotel, on the edge of Uptown, was built in 1989, according to Denver city records. It boasts an indoor pool and about 4,600 square feet of meeting space. The hotel advertised rooms around $120 per night on Monday afternoon.
Xenia bought the Hampton Inn in 2005 for $17.93 million, and sold it last week in a package that also included three Hilton hotels in Chicago, St. Louis and Houston.
In a press release, Xenia said it may use proceeds from the sale to pay down debt, fund other acquisitions and buy back company shares.
Magna Hospitality Group is a hotel real estate firm based in Rhode Island. The company owns or operates more than 20 hotels, including Hilton, Marriott, Hyatt, Starwood and Intercontinental Hotel Group brands.
The Hampton Inn & Suites Denver Downtown at 19th Avenue and Sherman Street sold last week for $27.43 million. (Burl Rolett)
A hotel just outside downtown changed hands as part of a nine-figure hospitality portfolio sale last week.
Magna Hospitality Group bought the 148-room Hampton Inn & Suites Denver Downtown at 19th Avenue and Sherman Street last week for $27.43 million, Denver city records show. The hotel was part of a four-property package that Xenia Hotels & Resorts sold for a combined $119 million.
The hotel, on the edge of Uptown, was built in 1989, according to Denver city records. It boasts an indoor pool and about 4,600 square feet of meeting space. The hotel advertised rooms around $120 per night on Monday afternoon.
Xenia bought the Hampton Inn in 2005 for $17.93 million, and sold it last week in a package that also included three Hilton hotels in Chicago, St. Louis and Houston.
In a press release, Xenia said it may use proceeds from the sale to pay down debt, fund other acquisitions and buy back company shares.
Magna Hospitality Group is a hotel real estate firm based in Rhode Island. The company owns or operates more than 20 hotels, including Hilton, Marriott, Hyatt, Starwood and Intercontinental Hotel Group brands.
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