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Denver Adams Mark Hotel Sold, Renovation Planned

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Feb 8, 2008 10:13 am US/Mountain

Denver Adams Mark Hotel Sold, Renovation Planned

Sheraton Takes Over Management

DENVER (CBS4) ― A San Francisco-based investment group said Friday it has completed the purchase of the Denver Adams Mark Hotel on the 16th Street Mall. The group said it planned a $70 million renovation and planned to rename the property the Sheraton Denver Hotel in the next 18 months.

The Chartres Lodging Group, LLC, said the deal was part of a larger transaction by the group to buy the 4,867-room Adams Mark portfolio from HBE Corp., of St. Louis. It encompasses high-profile, convention-oriented hotels in Denver, Dallas, St. Louis, Indianapolis and Buffalo, NY. All five properties will be renovated.

The Denver hotel has 1,225 rooms.

Sheraton will assume management of the property as an Adams Mark now until the rebranding in Spring 2008. Hotel guests will be eligible to receive Starwood Preferred Guest® Points immediately.

(© MMIX CBS Television Stations, Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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