DENVER-Bethesda, Maryland-based DiamondRock Hospitality Co. has acquired the Courtyard Denver Downtown, a hotel containing 177 rooms at 934 16th St., for approximately $46 million. In mid-May, DiamondRock purchased the JW Marriott Denver Cherry Creek located at 150 Clayton Lane for $72.6 million.
The company funded its Courtyard Denver Downtown purchase with corporate cash and the accepting of a $27.2-million loan. The mortgage has a 6.26% interest rate. DiamondRock is expecting that the hotel may produce EBITDA of nearly $3.8 million in 2012. For the full story, go to Denver Business Journal .
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