Overview
HREC Investment Advisors (“HREC IA”) is pleased to offer to qualified investors the opportunity to acquire the fee simple interest in the 103-room Holiday Inn Express & Suites Wheat Ridge – Denver West (the “Hotel”, “Asset” or “Property”).
The Holiday Inn Express & Suites Wheat Ridge – Denver West represents an excellent opportunity to acquire a value-add investment with tremendous upside potential. The Hotel will not require a PIP upon sale and has brand optionality beginning at the conclusion of the franchise term in 2028.
Wheat Ridge's proximity to major corporations such as Ball Corporation, Molson Coors Beverage Company, Coorstek, Inc., and FirstBank ensures a steady influx of corporate demand. Additionally, the ongoing 110-acre mixed use development at Clear Creek Crossing features the establishment of the SCL Health Hospital & Medical Offices alongside other developments, underscoring the area's growth potential.
Furthermore, the city is part of the Denver metro area, which is the preeminent economic, social, cultural hub of the Rocky Mountain region. Denver was voted “Most Preferred Market in U.S. for Real Estate Investment” per the CBRE Investors Survey, “#1 Best U.S. City for Fall Travel” per Travel + Leisure, and “Worlds 100 Greatest Places” per Time Magazine.
The Hotel serves as an attractive investment opportunity for an owner with its strategic location, proximity to major corporations and nearby developments, as well as easy access to the city of Denver, mountain resort communities and tourist attractions.
Investment Highlights
Proximity to Denver/Gateway to Rocky Mountains
The Hotel is located less than ten miles from downtown Denver, with access to Ball Arena, Empower Field at Mile High, Coors Field, and the Denver Coliseum. In addition, the Property is minutes from the foothills of the Rocky Mountains, a key element of Colorado’s tourism industry.
Nearby Mixed-Use Development
The Clear Creek Crossing mixed-use development, located 3.4 miles from the Hotel, is a 110-acre master plan development that includes the relocated SCL Health Hospital & Medical Offices, residential, and retail.
Value-Add Offering
The Hotel will not require a PIP for the remaining 4 years of the franchise agreement and will not be re-licensed at the conclusion of the current term. Rebranding options include Sonesta, Wyndham, and Best Western, and may occur at the end of the license term.
Terrific Location to Major Corporate Demand Generators
The Hotel is located less than five miles from major corporations such as Ball Corporation, Molson Coors, Coorstek, Inc., and FirstBank.
Competitive Set Penetration
According to the February 2024 TTM, the Holiday Inn Express & Suites RevPAR penetrated at 87.6% against its competitive set, exhibiting great potential for a new owner to improve the Hotel's top-line.
Upside from Replacing Existing Management
An investor can seek to revamp the operations of the Hotel, implement strategic cost control initiatives, and employ more aggressive yield management strategies.
Fee Simple Interest
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