Olive Real Estate Group and Hotel Equities announce a major
Colorado Springs, Colo., May 31, 2022 (GLOBE NEWSWIRE) — Olive Real Estate Band, Hotel Shares (“HE”), Colarelli Construction and Hotel Operations Services, the owners, development and operating partners, are delighted to announce the official opening of the new SpringHill Suites by Marriott and Element by Westin in downtown Colorado Springs on May 26, 2022. The dual-branded property has 261 combined rooms and offers panoramic views of Pikes Peak, Garden of the Gods park and the Rocky Mountains.
“The Downtown Colorado Springs dual-brand hotel has provided more than 150 jobs for Colorado Springs residents with competitive salaries, benefits and career growth opportunities,” said Olive Real Estate Group Director Jim DiBiase. “In addition to the positive social impact the hotel brings, the dual-brand model is the perfect solution to market demand for upscale urban accommodations that include extended-stay options in downtown town. It’s a testament to the growth of business and tourist travel in Colorado Springs.
“We are thrilled to add this property to our hotel portfolio, expanding our footprint in the West,” said HE Director of Development Joe Reardon.
Hotel Equites General Manager Brad Rahinsky added, “This hotel represents our further commitment and investment in the growing Colorado Springs market. We have been actively involved in The Springs as owners and operators for nearly a decade and seek to continue to grow and support the community with continued growth and opportunity.
The dual-brand property, located at the corner of South Tejon and East Costilla, is in the heart of downtown Colorado Springs, a growing hub for business functions and entertainment options including the US Olympic & Paralympic Museum and Colorado Springs Switchbacks FC. The location is encompassed by Colorado College, University of Colorado at Colorado Springs, United States Air Force Academy, Colorado Springs Fine Arts Center, and many local restaurants and bars.
Gus Krimm is the hotel’s general manager alongside sales manager Linda Greenwell.
“Our team has had the pleasure of working alongside the developers and the property opening team since the project began to ensure that the original vision for the dual-branded property comes to fruition,” said the senior vice president of operations at HE, Peter Tziahanas. “I’m confident the team has delivered a property that will serve as a central gathering place for the downtown community and provide guests with a unique experience when visiting the bustling city.”
The eighth floor of the dual-branded hotel is home to Lumen8 Rooftop Social, a contemporary restaurant and bar that will open June 1, 2022. Eight stories tall with panoramic mountain views, the restaurant capitalizes on the seasonality of Colorado Springs. With an upscale contemporary American kitchen, rooftop patio, and focus on local ingredients, Lumen8 is “a great space to take in the view, sip a bottle of wine, and enjoy the evening with family and friends.” , says Chris Starkus. , Director of Food and Beverage.
To learn more about SpringHill Suites, click here. To learn more about Element Downtown Colorado Springs, click here.
About Olive Real Estate Group
Olive Real Estate Group is a recognized leader in the Southern Colorado commercial real estate market, serving clients as they grow, move, grow and invest to enhance business, financial and economic development in a region rich in opportunities. Since 1976, Olive Real Estate Group has developed over 5 million square feet of commercial office, retail, hotel and industrial properties in Colorado Springs. Flagship projects include the Colorado Springs Tech Center, Woodmen Office Campus and Aerospace Technology Center campuses. Learn more about www.olivereg.com.
About hotel stocks
Hotel Equities is an award-winning, large-scale hotel ownership, management and development company with a portfolio of over 250 hotels and resorts across the United States and Canada. Fred Cerrone, CHA, is Founder and President; Brad Rahinsky is President and CEO. Hotel Equities is a subsidiary of 33 Degrees, an integrated management platform combining market knowledge and industry experience across a wide range of CRE assets, including offices, restaurants, retail, residential mixed use and multi-units. For more information on hotel stocks, visit www.hotelequitites.com.
Rendering dual-branded Marriott