Lodging Partners, LLC announced the 66-unit Residence Inn located in Durango, CO has sold to a regional operator of premium-branded select-service hotels. The marketing and negotiations were led by Ford Barton of Lodging Partners and Jeffrey Duni at HREC Investment Advisors.
“This is the second Marriott property that Lodging Partners has represented for the seller, and we were pleased to assist them in reaching their goals and objectives,” said Ford Barton, Principal of Lodging Partners.
The Residence Inn is located just outside of historic downtown Durango which is home to award-winning restaurants, laid-back brewpubs, art galleries, museums, and numerous shops. Durango is considered to be an authentic Colorado town with a rich history and an endless supply of recreational activities, making it an exceptional tourist destination with diversified demand drivers. The Hotel recently completed a major renovation of all guest rooms and public areas. It is in great physical condition and is well-positioned to capitalize on the market’s continued economic growth and expanding leisure demand.
About Lodging Partners, LLC
Lodging Partners is a specialized hotel brokerage and advisory firm focused on the sale of select-service hospitality investment properties on behalf of institutional and private investors throughout the United States. Over the past 7 years, Lodging Partners has had an advisory role on 106 hotel assets with over $467 Million in sales. The firm offers a wide range of hotel real estate services, including brokerage, valuation consulting, and strategic acquisition planning and has an unwavering commitment to client service. In addition to selling hotels, Lodging Partners also coordinates the sale and purchase of hotel notes, arranges preferred equity & recapitalization, and manages auctions through the Ten-X platform, where the firm recently sold 10 hotels.