DENVER-DiamondRock Hospitality Co., a self-advised REIT based in Bethesda, Maryland, has purchased the JW Marriott Denver at Cherry Creek located at 150 Clayton Lane from Sage Hospitality Resources for an amount of $72.6 million. The 196-room hotel, constructed in 2004, recently finished more than $5 million in improvements.
Developer Charlie Biederman, the original owner of the property, sold the hotel to Denver's Sage in 2006. The hotel's new furniture, new carpet and 8,400 square feet of meeting space were upgraded. For the full story, go to Denver Business Journal.
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