Hospitality Ventures Management Group (HVMG) today announced it has signed an agreement to provide third-party management services for the recently announced ground up new development Union Tower West, a 212,000 square foot building featuring the city’s first Hotel Indigo hotel. The hotel is being co-developed by Portman Holdings, a real estate developer with a focus on hospitality, office, and mixed-use properties, and Hensel Phelps, one of the nation’s largest general contractors and construction managers.
“This marks our second Hotel Indigo collaboration with Portman Holdings,” said Robert S. Cole, HVMG president and CEO. “In addition to the Denver property, which also happens to be the first Hotel Indigo® in Colorado, we currently are providing pre-opening services and will manage the adaptive reuse 206-room Hotel Indigo® hotel in downtown Atlanta. We will continue to seek out partnerships with best-in-class capital partners and developers such as Portman as we pursue our growth strategy of acquiring and developing premium branded, full-service and independent properties. We appreciate Portman’s confidence in our ability to add value to their impressive portfolio of hotels."
Located at 1801 Wewatta St., adjacent to Denver’s newly redeveloped Union Station, the hotel is scheduled to open in the 2016 fourth quarter. The hotel will reside within Union Tower West, a 200,000-plus square foot mixed-use development of office and retail space. Upon opening, the hotel will feature approximately 1,950 square feet of meeting space, a fitness center, business center, bar and restaurant.
“HVMG has a proven track record of providing superior returns for owners and memorable experiences for guests,” said Ambrish Baisiwala, CEO of Portman Holdings. “We have full confidence in their ability to introduce a new brand to the Denver market and quickly ramp up the hotel, enabling it to become one of the boutique hotels of choice for visitors seeking an authentic experience with all the amenities that come with a branded hotel.”
Hospitality Ventures Management Group is a privately owned, fully-integrated hotel investment and management group that specializes in turning around and repositioning underperforming hotels, as well as maximizing the performance of stabilized hotels. It currently operates 42 hotels in 16 states totaling 8,060 guest rooms.
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