JV LED BY INTERSTATE HOTELS & RESORTS PURCHASES SHERATON DENVER TECH CENTER

DENVER — Interstate Hotels & Resorts has formed a joint venture with Waramaug Hospitality LLC and an investment management company to acquire the 262-room Sheraton Denver Tech Center Hotel for an undisclosed amount. HREC Investment Advisors’ Mike Cahill arranged the sale. The only Sheraton-branded hotel in the high-density Tech Center area, the full-service property will immediately undergo a $5.75 million renovation, including a complete makeover of the guest rooms, public and meeting space, food and beverage areas, and recreational offerings. Located at 7007 South Clinton Street, the Sheraton Denver Tech Center Hotel offers 10,500 square feet of meeting space, a business center, an exercise room, an outdoor swimming pool, a gift shop and the full-service Redfire Restaurant & Lounge. Interstate assumed management of the hotel upon completion of the acquisition.