Silverwest buys Inverness Hotel in Arapahoe County, plans major renovations
Silverwest Hotels LLC said Wednesday it has bought the Inverness Hotel and Conference Center, a 302-room complex in Arapahoe County near Centennial Airport.
The luxury hotel is at 200 Inverness Drive West, near Interstate 25 between Dry Creek and County Line roads, not far from a number of corporate headquarters buildings.
It is metro Denver's 17th largest hotel by room count, according to Denver Business Journal List research. The previous owner is listed as the Pennsylvania State Teachers Retirement Fund.
Silverwest, a Denver-based hotel investment and management company, said it acquired the Inverness on behalf of its Silverwest Hotel Fund(s) I/IA. The company said it plans "a multimillion dollar capital expenditure and property improvement plan for the property."
Terms were not announced.
The Inverness has been operated by Arapahoe County-based Destination Hotels since 1995, when 200 Inverness Drive West Holding Corp. and Deloitte & Touche LLP bought the property for $37 million.
Destination Hotels will continue to run the hotel for the new owner.
Charlie Peck, who along with Edward Mace co-founded Silverwest in 2013, said the company looks "forward to implementing a plan that will substantially enhance the hotel's appeal and our guest's experience. While the transition will be seamless for our guests, we're looking forward to announcing the changes we'll be bringing to the property."
The Inverness opened in 1989 as the Scanticon Denver Hotel and Conference Center. It was one of the first full-service hotels in the southeast Denver metro area.
The hotel offers a spa and 60,000 square feet of conference space and is adjacent to an 18-hole golf course.
Silverwest said it plans to begin renovation in 2016, with guest-room upgrades slated to start in November 2016.
A $1.3 million renovation of the hotel's lobby, entrance, food and beverage outlets and event corridors was completed this year.
Reported by: Denver Business Journal
The luxury hotel is at 200 Inverness Drive West, near Interstate 25 between Dry Creek and County Line roads, not far from a number of corporate headquarters buildings.
It is metro Denver's 17th largest hotel by room count, according to Denver Business Journal List research. The previous owner is listed as the Pennsylvania State Teachers Retirement Fund.
Silverwest, a Denver-based hotel investment and management company, said it acquired the Inverness on behalf of its Silverwest Hotel Fund(s) I/IA. The company said it plans "a multimillion dollar capital expenditure and property improvement plan for the property."
Terms were not announced.
The Inverness has been operated by Arapahoe County-based Destination Hotels since 1995, when 200 Inverness Drive West Holding Corp. and Deloitte & Touche LLP bought the property for $37 million.
Destination Hotels will continue to run the hotel for the new owner.
Charlie Peck, who along with Edward Mace co-founded Silverwest in 2013, said the company looks "forward to implementing a plan that will substantially enhance the hotel's appeal and our guest's experience. While the transition will be seamless for our guests, we're looking forward to announcing the changes we'll be bringing to the property."
The Inverness opened in 1989 as the Scanticon Denver Hotel and Conference Center. It was one of the first full-service hotels in the southeast Denver metro area.
The hotel offers a spa and 60,000 square feet of conference space and is adjacent to an 18-hole golf course.
Silverwest said it plans to begin renovation in 2016, with guest-room upgrades slated to start in November 2016.
A $1.3 million renovation of the hotel's lobby, entrance, food and beverage outlets and event corridors was completed this year.
Reported by: Denver Business Journal
