Denver's Hotel Teatro Completes Multi-Million Dollar Guest Room Renovation

USA, Denver, Colorado. March 14, 2018

Hotel Teatro, Denver's original boutique hotel, announces the completion of a $2.5 million property-wide guest room renovation. Since the project's start in late 2017, all 110 guest rooms have undergone significant updates and now feature custom-built hardwood furniture alongside stylish and comfortable decor.

Guest rooms now offer guests custom-stained white oak cabinetry; a subtle grey fleece wall treatment; new 50-inch flat-screen televisions; new furniture, including a custom chaise lounge, lounge chair, nightstands and coffee table; updated, design-forward soft goods; new lighting; creative touches such as terrariums and contemporary artwork; and more. The hotel's historic, 1400 sq. ft. Chancellor's Suite received similar updates, in addition to new sofas and a custom conference table; the new furnishings complement historic original details within the suite, such as wood-paneled walls and a limestone fireplace.

Lightly used furniture from the previous guest room design were donated to Habitat for Humanity, a nonprofit organization that brings people together to build and furnish homes for those in need.

“We're proud to showcase our new guest rooms,” said David Coonan, general manager. “The first floor of the property was renovated in 2014, and we continue to receive positive feedback regarding the distinctive, thoughtful design. We're confident our guests will similarly respond to the new guest rooms, and find a sense of home blended with a uniquely 'Denver' aesthetic.”

As Denver's original boutique hotel, Hotel Teatro provides guests with a modern experience juxtaposed with the historic setting of the 20th century Renaissance Revival building in which it is housed. The property was built in 1911 as the Denver Tramway Building, with an original design that incorporates a modern steel skeleton and traditional Renaissance Revival-style edifice. In 1997, architects began restoring the Denver Tramway Building, transforming it into the exquisite building that stands as Hotel Teatro, which opened in 1999. The first floor of the property underwent a large-scale renovation in 2014, that included the addition of The Nickel and The Study. The new guest rooms are designed to reflect the look of the property's first floor.

About Hotel Teatro

As Denver's original boutique hotel, Hotel Teatro provides guests with a newly renovated, modern experience juxtaposed with the historic setting of the 20th century Renaissance Revival building in which it is housed. An ideal location in the heart of Denver's music and theatre district, set against a beautiful Rocky Mountain backdrop, the four-diamond Hotel Teatro is surrounded by independently owned and operated restaurants and shops. It is easily walkable to prime Denver destinations such as the Denver Center for Performing Arts, the Colorado Convention Center, Union Station, and professional sports and entertainment venues Coors Field and the Pepsi Center. Home to The Nickel, a popular restaurant featuring dishes comprised of just three to four ingredients, lending to approachable meals influenced by traditions and recipes passed down through generations of American cooking, and The Study, a beautifully designed lounge, bar and gathering venue, Hotel Teatro allows guests to enjoy a one-of-a-kind, local Denver experience. Hotel Teatro was named the “Top Hotel in Denver” in the 2016 Travel + Leisure World's Best Awards and took the number one spot in the “25 Top Hotels in the West,” in the Conde Nast Traveler Readers' Choice Award for the same year. For more information, visit www.HotelTeatro.com, or follow @TeatroDenver on Instagram and @HotelTeatro on Facebook.

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Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.