Seven hotels retain U.S. 36 plans
Denver Business Journal – by Noelle Leavitt
A faltering economy hasn’t chased hotel developers away from the U.S. 36 corridor, where seven hotels are slated to open before energy giant ConocoPhillips launches a new training facility on the former StorageTek campus in 2012.
Although some hotels being planned still lack permanent financing, hospitality experts believe room demand from the thousands of business travelers the facility will bring to the area will be so high, lenders will make cash available to developers despite the tight credit market.
“With the anticipation of it being a training facility, the hotel industry is hopeful that that will mean a lot of nights for the corridor rather than one or two nights here and there,” said Tanya Pierson, senior vice president of the Boulder division of HVS, a global hospitality company based in New York.
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