(Denver, Colorado) – HREC Investment Advisors is pleased to announce it has arranged the sale of the 48-guestroom Rodeway Inn and the 49-guestroom Travelodge located in Loveland, Colorado. Both properties will be professionally managed by National Hospitality Services LLC (NHS). Norman Leslie, NHS President, remarked that “We have been fortunate to work with 8th Ave Lodging LLC in the past and have found them to be excellent owners and partners. We were very pleased to be selected by 8th Ave Lodging LLC to manage the Travelodge and Rodeway in Loveland. Both properties are uniquely positioned to serve travelers to the area with an excellent location off Interstate 25 and Highway 34. We are excited to work as a strategic partner to continue the properties success and bring both hotels to their peak performance.”
Mike Dube’ (Vice President), Jeffrey Duni (Vice President) and Mike Cahill (CEO and Founder), exclusively represented the seller during the transaction. The Seller, Pioneer Hotel Investments, is a locally based owner/operator of limited service hotels in select Front Range markets. “Although it was a long process, everything was handled professionally and efficiently by HREC and we were pleased that the end result was a successful transaction for all involved,” commented K.J. Grewal, a Principal in Pioneer Hotel Investments.
Dube’ stated that, “The Loveland market has experienced tremendous growth in the current economic cycle, and is right behind Denver as the second highest performing Front Range submarket in terms of RevPAR. With the continued increase in Rocky Mountain National Park visitors, these assets are well positioned as the closest economy lodging options outside of Estes Park, and should continue their excellent performance with the new ownership group.”
Loveland is situated approximately 10 miles south of Fort Collins and less than 35 miles east of Estes Park and Rocky Mountain National Park, three very popular destinations in Colorado for leisure, corporate, and education-based lodging demand. Fort Collins is home to Colorado State University and is the fourth most populous city in Colorado.
About HREC®: HREC® is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.
For addition information on the property, please contact:
Mike Dube Vice President
303.267.0057 x113 [email protected]
Jeffrey Duni Vice President 720.484.1048 [email protected]
Ashley Hunt Director of Marketing 303.267.0057 [email protected]
Visit HREC®’s website at www.hrec.com