DENVER, Colorado; KANSAS CITY, Missouri; Houston, Texas—HREC Investment Advisors announced it has arranged the sale of the 70-guestroom Hampton Inn Glenwood Springs and the 64-guestroom Holiday Inn Express Glenwood Springs, both located in Glenwood Springs, Colorado. Nightcap Management, a Lincoln, Nebraska-based full-service development company, acquired the properties. Over the past five years, the Principals of Nightcap Management have developed and purchased over 15 hotels with a combined value of over $200 million.
HREC Investment Advisors exclusively represented the seller, Terrapin Investments, on this transaction. The marketing and negotiations were led by Herb Warmbrodt (principal, Kansas City), Mike Dubé (senior vice president, Denver), Jeffrey Duni (senior vice president and broker on record for Colorado), and Adam Lallani (vice president, Houston). Based in Aspen, Colorado, Terrapin Investments invests in real estate properties including hotels and resorts, as well as a variety of other commercial real estate holdings.
Dubé stated, “The Glenwood Springs lodging market continues to thrive as a leisure drive-to destination market outside of the major ski resort areas with continued record tourism expenditures and hotel performance.”
These two Hotels, located at the base of the gondola for the Glenwood Caverns Adventure Park, are within walking distance of the world-famous Glenwood Hot Springs.
