DENVER––Sage Hotel Management, a Sage Hospitality Group company, announced today it has taken over management of The Source Hotel + Market Hall, a 100-room hotel and collection of retail spaces housing an array of independent retail and dining concepts in the heart of Denver’s thriving River North (RiNo) Art District.
The Source joins the Sage Independent Hotel Collection, which encompasses 13 other independent properties including Catbird and The Rally Hotel, both in Denver, and Hotel Per La in downtown Los Angeles, with more to be announced in the coming months. Recently acquired for $61.9 million by Stockdale Capital Partners, a vertically integrated Los Angeles-based real estate investment firm, the property will undergo renovations and improvements in the coming months.
“The addition of The Source Hotel + Market Hall to our growing independent portfolio and the start of a new business relationship with Stockdale Capital Partners is an excellent representation of our journey towards becoming the nation’s undisputable lifestyle hospitality company,” said Daniel del Olmo, president and chief operating officer of Sage Hotel Management. “For the past few years, we have been building out our team meticulously with experts in luxury, lifestyle and independent hospitality – from operations to sales, marketing and revenue, and everything in between. We now have over 170 talented and passionate team members in our headquarters that are eager to deliver meaningful results to our owners and investors, while enriching lives, one experience at a time. We look forward to fully realizing the potential of this unique experience in RiNo Denver while bringing a new holistic perspective to the overall concept.”
Opened in 2018, The Source is home to some of the most renowned dining destinations in Denver, including Safta, SMOK BBQ, Reunion Bread Co. and Temaki Den; a pool on the rooftop, 5,575 square feet of event space, fitness and business centers, 44,000 square feet of on-site food and beverage, as well as retail in the adjacent Market Hall locations. Sage Hospitality Group will work with Stockdale Capital Partners to build upon The Source’s success with significant investments in the property to refresh the hotel’s guest rooms, activate the lobby experience, create additional revenue drivers in the retail space and more.
“The Source is an exciting addition to our portfolio of hotels across the country, and we’re thrilled to be working with an operator like Sage,” said Bill Doak, managing director of hospitality for Stockdale Capital Partners. “Their long tenure in the industry and incredible depth of experience in Denver, coupled with their understanding of creating unforgettable hospitality experiences made them the perfect fit for this asset. We look forward to working together to build on the property’s success and taking it to the next level.”
Sage Hotel Management welcomed 75 new associates as part of the transition