Hotels Group

Houston, TX - October 7, 2009 - (RealEstateRama) -- The Radisson Denver North, Colorado, Texas has been sold. Lisa Hankamer of CB Richard Ellis' Hotels Group, announced that the sale of the 133-unit, interior corridor property occurred at the end of September 2009. The Hotel, which is a local landmark, has great visibility along I-25, just 10 minutes north of Downtown Denver and was sold free-and-clear of management and franchise affiliation. The new owners, Stone Castle Corporation, has over 20 year's experience operating hotels in the state of Colorado and have a proven track record for repositioning hotels within their respective market arenas. Approximately $6 million will be spent on upgrading the facility and rebranding. The group has a history operating under most of the major brands and has been quite successful in capturing a broader market base through their repositioning.