The hotels, located about a 10-minute drive east of the CBD,have lost much of the former airport business to the DenverInternational Airport, the $6-billion facilitythat opened almostfive years ago 18 miles to the east.
John Montgomery, president of Horwath Hospitality, says thehotels have prospered by handling the overflow from the Downtownhotels. Their average room rates at $54.45 per night, are far lowerthan Downtown rates, which averaged $114 per night, he says.
Room rates are expected to rise as soon as Cleveland-basedForest City begins to sell land for office developments atStapleton, which is the largest urban infill development in thecountry, he says.
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