The Colorado Springs Marriott is putting the finishing touches on an 18-month, $15 million renovation designed to keep the 31-year-old property competitive as a wave of hotel construction and renovation spreads across the area.
Hotel owner West Point Partners started the project in January 2018, suspended work during last year’s tourism season and resumed in December, said Lori Shook, director of sales and marketing and project manager of the renovation.
The company renovated all 309 guest rooms and the hotel’s meeting space and converted part of the facility’s offices into a new and expanded fitness center.
“We started this project to be competitive. A lot of hotels in the market were renovating and there were a number of new hotels coming into the market, including another Marriott property downtown,” Shook said. “The owners are committed to this property and believe in this hotel and market. The renovations have been well-received with a 91% occupancy rate in July and a 93% rate in July.”
The guest mix at the Marriott, 5580 Tech Center Drive on Colorado Springs’ northwest side, is split, with about two-thirds individual and corporate guests and one-third group meetings for technology, government and religious nonprofits, Shook said.
A limited liability company formed by West Point paid $22.1 million for the hotel in 2017, financed by a 10-year, $25.7 million loan from JPMorgan Chase Bank, according to El Paso County land records.
West Point specializes in acquiring hospitality and other properties with “strong cash flow with a value add component,” such as completing a renovation, and often buying at a discount, according to its website.
The company also owns a 304-room hotel in Cincinnati and is building a 176-unit multifamily complex in New Jersey.
Bryan Construction of Colorado Springs was general contractor for the project, which was designed by Chicago-based Wright Heerema Architects using Garden of the Gods as its inspiration, according to a hotel news release.
Shook said the renovation was designed to reflect the “natural beauty of the area through the artwork and color scheme” in guest and meeting rooms.
Nearly all the renovation has been completed with remodeling of restrooms in the lobby and replacement of lighting and other parts of the meeting rooms to be completed late this month, Shook said.
The hotel’s outdoor courtyard will be renovated next spring, though some landscaping work has been completed, she said.
The hotel’s lobby was renovated as part of a $3.8 million project by the hotel’s previous owners in 2016.
The Marriott recently hired Jason Miller as its executive chef. He previously worked for the Wyndham Mining Exchange hotel, Whole Foods Market and The Blue Star restaurant.
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