{"id":1004150437,"date":"2016-08-19T12:28:58","date_gmt":"2016-08-19T20:28:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004150437"},"modified":"2020-05-18T17:02:14","modified_gmt":"2020-05-19T01:02:14","slug":"boulder-marriott-hotel-lands-new-owner","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/boulder-marriott-hotel-lands-new-owner\/","title":{"rendered":"Boulder Marriott Hotel Lands New Owner"},"content":{"rendered":"<p>By Ioana Neamt<\/p>\n<div id=\"attachment_1004150438\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/denbo_main01.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004150438\" data-attachment-id=\"1004150438\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/boulder-marriott-hotel-lands-new-owner\/denbo_main01\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/denbo_main01.jpg\" data-orig-size=\"1024,550\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"denbo_main01\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/denbo_main01.jpg?w=1024\" class=\"wp-image-1004150438 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/denbo_main01.jpg\" alt=\"Marriott hotel in Boulder, Colo.\" width=\"300\" height=\"161\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/denbo_main01.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/denbo_main01.jpg?resize=300,161 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/denbo_main01.jpg?resize=768,413 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004150438\" class=\"wp-caption-text\">Marriott hotel in Boulder, Colo.<\/p><\/div>\n<p><strong>Denver<\/strong>\u2014<a href=\"https:\/\/www.shpreit.com\/\" rel=\"nofollow\" target=\"_blank\">Summit Hotel Properties Inc.<\/a> has acquired a 157-key <a href=\"https:\/\/www.marriott.com\/marriott-hotels-resorts\/travel.mi\" rel=\"nofollow\" target=\"_blank\">Marriott<\/a> hotel in Boulder, Colo., for $61.4 million. The company announced the transaction took place on August 9 and included a management agreement with <a href=\"https:\/\/www.sbcos.com\/\" rel=\"nofollow\" target=\"_blank\">Stonebridge Realty Advisors Inc.<\/a><\/p>\n<p>\u201cThe asset has a number of unique attributes, including its compact size of 157 guestrooms and healthy hotel EBITDA margin og nearly 41.0 percent, that make it a great complement to our diverse portfolio of premium select-service hotels,\u201d Summit President &amp; CEO Daniel Hansen said in a statement.<\/p>\n<p>The gross purchase price of the Marriott Boulder <a href=\"https:\/\/www.commercialsearch.com\/news\/hotel\" target=\"_blank\">hotel<\/a> equates to a capitalization rate of 8.2 percent of management\u2019s estimate of the hotel\u2019s 2017 NOI, including tenant income from roughly 20,000 square feet of retail and restaurant space. The hotel had RevPAR of $167 during the past 12 months, representing a 51 percent premium over Summit Hotel Properties\u2019 pro forma RevPAR for the portfolio.<\/p>\n<p>The Boulder, Colo., real estate market continues to be highly attractive to a variety of corporate, entertainment and education-related investors. Major employers in the area include Google, which is currently developing a <a href=\"https:\/\/www.commercialsearch.com\/news\/google-plans-phase-ii-of-boulder-development\/\" target=\"_blank\">$150 million campus<\/a> on Pearl Street, as well as IBM, Qualcomm and the  National Center for Atmospheric Research (NCAR). The Marriott Boulder hotel is conveniently located in close proximity to the University of Colorado, Folsom Field and the Pearl Street Mall.<\/p>\n<p><em>Image courtesy of Marriott<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summit Hotel Properties paid $61.4 million for the 157-key hotel located 29 miles from Denver.<\/p>\n","protected":false},"author":192,"featured_media":1004150438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1587,21751,21742,15],"tags":[],"class_list":["post-1004150437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-denver","category-hotel","category-latest","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Boulder Marriott Hotel Lands New Owner - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/boulder-marriott-hotel-lands-new-owner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boulder Marriott Hotel Lands New Owner\" \/>\n<meta property=\"og:description\" content=\"Summit Hotel Properties paid $61.4 million for the 157-key hotel located 29 miles from Denver.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/boulder-marriott-hotel-lands-new-owner\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-08-19T20:28:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-19T01:02:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/08\/denbo_main01.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boulder-marriott-hotel-lands-new-owner\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boulder-marriott-hotel-lands-new-owner\\\/\"},\"author\":{\"name\":\"Ioana Neamt\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/993af2799cdaf5162633d320cf63ff16\"},\"headline\":\"Boulder Marriott Hotel Lands New Owner\",\"datePublished\":\"2016-08-19T20:28:58+00:00\",\"dateModified\":\"2020-05-19T01:02:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boulder-marriott-hotel-lands-new-owner\\\/\"},\"wordCount\":238,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boulder-marriott-hotel-lands-new-owner\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/08\\\/denbo_main01.jpg\",\"articleSection\":[\"Deals\",\"Denver\",\"Hotel\",\"News\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boulder-marriott-hotel-lands-new-owner\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boulder-marriott-hotel-lands-new-owner\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boulder-marriott-hotel-lands-new-owner\\\/\",\"name\":\"Boulder Marriott Hotel Lands New Owner - 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