Airport hotel site map

The site for the proposed Courtyard by Marriott and Residence Inn hotels is south of Milton E. Proby Parkway and just west of the Northrop Grumman office complex in the Colorado Springs Airport’s Peak Innovation Park.

A plan to build a pair of hotels near the Colorado Springs Airport passenger terminal cleared a major hurdle Tuesday.

The City Council unanimously approved a $1.7 million sale of 6 acres, just south of Milton E. Proby Parkway in the airport’s Peak Innovation Park, to a limited liability company set up by Atlanta-based Hotel Equities, which wants to develop the hotels.

A 130-room Courtyard by Marriott would open in late 2021, and a similar-sized Residence Inn or equivalent Marriott brand would open later, city Aviation Director Greg Phillips told council members Monday.

The sale price is about $280,000 less than the appraised value, Phillips said.

The deal had been renegotiated to a higher price and must be completed soon to take maximum advantage of federal tax benefits available because the site is in a federal Opportunity Zone, he told the council. That program allows investors in such projects to delay paying federal income tax on investment profits until 2026.

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