Starwood's Element Denver Park Meadows Sold
Starwood Hotels & Resorts Worldwide has sold the 123-room Element Denver Park Meadows to Denver Hospitality II LLC for $15.5 million. The property will continue to operate under the eco-friendly brand.
Starwood officials said the move is part of a new direction for the company. "The sale of Element Denver Park Meadows follows the recent high-profile sales of two of our hotel properties in the Luxury Collection, namely the Phoenician and the Gritti Palace," said Adam Aron, interim CEO of Starwood. "While this is a smaller sale, nonetheless it also marks continued progress in fulfilling on our asset-light strategy and achieving our stated goal of $800 million in hotel sales by the end of 2015."
The Element Denver Park Meadows is just south of Denver, with access to the RTD light-rail line. The guest rooms all have fully equipped kitchens, and the property offers a 450-square-foot meeting room, an indoor saline pool and an outdoor patio.