The Plasencia Group Arranges Sale of Doubletree Hotel Denver-Westminster

USA , Tampa , Florida. January 10, 2019

The Plasencia Group is pleased to announce it represented a joint venture between Hotel Capital Partners and ORIX Real Estate Americas in the sale of the DoubleTree by Hilton Hotel Denver-Westminster. The 186-room hotel situated in the rapidly expanding Denver suburb of Westminster was acquired by an affiliate of Encore Hospitality, LLC, a Dallas, Texas-based commercial real estate investment company.

The Plasencia Group's Vice President, Joe Corcoran, and Senior Managing Director, Robert Wiemer, advised the seller in this transaction. The sale marks the second time The Plasencia Group has transacted this hotel.

"The purchaser is investing in this submarket at just the right time," commented Joe Corcoran. "The DoubleTree is well equipped to capitalize on the nearby Downtown Westminster development, augmenting its already diverse base of business. Additionally, the hotel's appealing, renovated condition is now a major factor in attracting business of all types. Our client was an excellent steward of the hotel, overseeing a substantial renovation and positioning it to compete as a top performer in its competitive set."

Hotel Capital Chief Executive Officer, Michael Collier, commented, "This sale represents a very clean execution on our original business plan from four years ago. At that time we acquired a cosmetically tired asset at a great basis in what we believed to be an up-and-coming location. Performing a top-to-bottom renovation of the hotel in 2016 allowed us to ramp up the business and resulting income and sell in our target price range to a highly qualified institutional buyer thanks to Joe Corcoran, Robert Weimer and the team at The Plasencia Group. Encore Hospitality was great to work with and we expect they will benefit from both the location and fully renovated product for a highly successful investment for many years to come."

The Plasencia Group has completed a total of 36 DoubleTree-branded hotel dispositions in 19 different states since 1999. Similarly, it has successfully transacted more than 100 Hilton-branded hotels and resorts nationally since 1999.


DoubleTree Denver Westminster
/ SLIDES

About The Plasencia Group

Media Contact:

Jodie Orozco
Vice President of Marketing & Partnerships
The Plasencia Group
T: 813-445-8277
E: jorozco@tpghotels.com
W: http://www.tpghotels.com

Related News

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in April 2019...

Guest Service: A Culture of YES

In a recent global consumers report, 97% of the participants said that customer service is a major factor in their loyalty to a brand, and 76% said they view customer service as the true test of how much a company values them. And since there is no industry more reliant on customer satisfaction than the hotel industry, managers must be unrelenting in their determination to hire, train and empower the very best people, and to create a culture of exceptional customer service within their organization. Of course, this begins with hiring the right people. There are people who are naturally service-oriented; people who are warm, empathetic, enthusiastic, pleasant, thoughtful and optimistic; people who take pride in their ability to solve problems for the hotel guests they are serving. Then, those same employees must be empowered to solve problems using their own judgment, without having to track down a manager to do it. This is how seamless problem solving and conflict resolution are achieved in guest service. This willingness to empower employees is part of creating a Culture of Yes within an organization.  The goal is to create an environment in which everyone is striving to say “Yes”, rather than figuring out ways to say, “No”. It is essential that this attitude be instilled in all frontline, customer-facing, employees. Finally, in order to ensure that the hotel can generate a consistent level of performance across a wide variety of situations, management must also put in place well-defined systems and standards, and then educate their employees about them. Every employee must be aware of and responsible for every standard that applies in their department. The April issue of the Hotel Business Review will document what some leading hotels are doing to cultivate and manage guest satisfaction in their operations.