The Grand Hyatt hotel at 1750 Welton St. in Denver sold for at least $115 million. (Google Maps)
One of the largest hotels in downtown Denver has sold.
TRTG GHD LLC purchased the 26-story Grand Hyatt Denver at 1750 Welton St. last week, according to public records.
The records associated with the real estate transfer show the sale price was at least $115.18 million. Hotel sales typically involve a personal property component that may or may not be reflected in figures that appear in public records.
The purchasing entity lists a Mexico City office address. Attempts to determine an individual involved with the entity were unsuccessful.
A Hyatt spokesman acknowledged the sale and said the company will continue to manage the hotel under the Grand Hyatt name, but said they couldn’t discuss the transaction further. A hotel manager did not respond to a request for comment.
The property was sold by 1750 Welton Street Investors LLC, an entity associated with UBS Realty Investors LLC. It paid $89.85 million for the property in June 2006, according to property records.
With 516 rooms, the hotel is the fourth-largest in downtown Denver, according to Denver Business Journal research. The deal works out to $223,000 a room.
The hotel tower was built in 1978. It underwent a $28 million renovation in 2013, and dropped another $5 million to upgrade its ballroom and meeting areas in 2015, according to media reports.
Correction: A previous version of this story cited property records that incorrectly state when the hotel was built. It was completed in 1978.
The Grand Hyatt hotel at 1750 Welton St. in Denver sold for at least $115 million. (Google Maps)
One of the largest hotels in downtown Denver has sold.
TRTG GHD LLC purchased the 26-story Grand Hyatt Denver at 1750 Welton St. last week, according to public records.
The records associated with the real estate transfer show the sale price was at least $115.18 million. Hotel sales typically involve a personal property component that may or may not be reflected in figures that appear in public records.
The purchasing entity lists a Mexico City office address. Attempts to determine an individual involved with the entity were unsuccessful.
A Hyatt spokesman acknowledged the sale and said the company will continue to manage the hotel under the Grand Hyatt name, but said they couldn’t discuss the transaction further. A hotel manager did not respond to a request for comment.
The property was sold by 1750 Welton Street Investors LLC, an entity associated with UBS Realty Investors LLC. It paid $89.85 million for the property in June 2006, according to property records.
With 516 rooms, the hotel is the fourth-largest in downtown Denver, according to Denver Business Journal research. The deal works out to $223,000 a room.
The hotel tower was built in 1978. It underwent a $28 million renovation in 2013, and dropped another $5 million to upgrade its ballroom and meeting areas in 2015, according to media reports.
Correction: A previous version of this story cited property records that incorrectly state when the hotel was built. It was completed in 1978.
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