DURANGO, CO—Lodging Partners, LLC, a member of Hotel Brokers International, announced the 66-guestroom Residence Inn located in Durango has sold to a regional owner/operator of premium-branded select-service hotels.
Lodging Partners along with HREC Investment Advisors represented the seller on this transaction. The marketing and negotiations were led by Ford Barton of Lodging Partners and Jeffrey Duni at HREC Investment Advisors.
“This is the second Marriott property that Lodging Partners has represented for the seller, and we were pleased to assist them in reaching their goals and objectives,” said Ford Barton, Principal of Lodging Partners.
The Residence Inn is located just outside of historic downtown Durango which is home to award-winning restaurants, laid-back brewpubs, art galleries, museums, and numerous shops. Durango is considered to be an authentic Colorado town with a rich history and an endless supply of recreational activities, making it an exceptional tourist destination with diversified demand drivers. The Hotel recently completed a major renovation of all guest rooms and public areas. The Hotel is in great physical condition and is well-positioned to capitalize on the market’s continued economic growth and expanding leisure demand.