DENVER-A group called Glenarm Partners LLC is pitching a plan for a 22-story, 138-room, luxury hotel to be called the “Inn at the DAC” on the surface parking lot at 13th and Welton streets next to the Denver Athletic Club where a “who’s who” of the city’s business and legal leaders workout.

The planned hotel also would include about 14 condominium units on the top floors. The group is proposing to sell the units from $450 to $500 for the core and shell. The buyers would then finish the units. Hersh Lackner, a member of the club and a retired investment banker from New York City, is leading the group. Lackner tells that he’s a Denver native who shut down his New York office and moved back to his hometown after his wife contracted cancer.

The other four members of Glenarm Partners LLC are: Jim Allred, principal of TAAG Architects; George Shaw, Shaw Construction; Bob Gustin, of the Gustin Property Group of Albuquerque; and Jim Anderson of locally based Municipal Capital Markets.

Allred would design the Inn at the DTC. TAAG Architects has worked on concourses A, B and C at the Denver International Airport. Hotel developments by Allred include the Magnolia Hotel in Downtown Denver; six Hampton Inn & Suites; the Wingate Inn & Suites in Greenwood Village; and the Avon Resort Hotel in Avon, which is at the doorstep of the Beaver Creek ski resort.

Shaw Construction, which has been building along the Front Range for the past four decades, would be the general contractor. Shaw is ranked as the second largest hospitality contractor in the state. Its hotel construction projects in Colorado have included the Hotel Columbia in Telluride; and several Aspen-located projects including the Hyatt Grand Aspen hotel; the St. Regis Hotel; Hotel Jerome; and the Little Nell Hotel.

Another team member would be Driftwood Hospitality Management, based in Jupiter, FL. Driftwood would manage the proposed hotel. Driftwood currently manages about 27 hotels and resorts with a total of 7,000 guest rooms. Hotels it manages include the Holiday Inn Select in Tulsa, OK; Crowne Plaza Hotel, Allentown, PA; Park Plaza Reliant Center; Houston; Holiday Inn Select, Memphis; Crowne Plaza Hotel, Oklahoma City; Hotel Thirty Thirty, New York City; Crowne Plaza Minneapolis Brooklyn Center; and the Tampa Riverwalk Hotel, Tampa, FL. The Gustin Property Group would be the developer. Its most recent development is the River Terrace Inn in Napa Valley, CA. Municipal Capital would put together the financing. The DAC expects to decide within the next two months or so whether to go forward with the proposal.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.