CBRE Hotels Sells Two Colorado Ramada Inns

CBRE Hotels Represents Hospitality Receiver, LLC in the Sale of Two Ramada Inns in Glenwood Springs and Sterling

​​Denver, Colorado – December 11, 2013 – CBRE Hotels, acting as the exclusive advisor to Hospitality Receiver, LLC, announced the sale of the 123-room Ramada Inn in the mountain resort community of Glenwood Springs, Colorado and the sale of the 102-room Ramada Inn in Sterling, Colorado.

Hospitality Receiver, LLC, an affiliate of Prism Hotels and Resorts, sold the properties in its capacity as a court appointed receiver. Both Ramada Inn’s are full-service properties located in desirable Colorado locations. Glenwood Springs was named the “Most Fun Town in America” in 2011 by USA Today and is the gateway to Aspen/Snomass. Sterling is the economic and retail hub in northeastern Colorado.

Larry Kaplan and Mark Darrington of CBRE Hotels in Denver represented the seller.  The buyer was a Colorado based hotel management company.

Mr. Kaplan noted, “We are pleased to have been involved in the sale of these two hotels in Colorado.  The properties garnered attention and offers from investors throughout the country.  Many highly qualified and aggressive buyer groups participated in the bid process.”


CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 150 dedicated hospitality professionals located in 37 offices across the globe. For more information, please visit our website at www.cbrehotels.com

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

Prism Hotels & Resorts
As an award winning full service hotel management, investment, and advisory services company, Dallas-based Prism Hotels & Resorts has developed a reputation for operational excellence by increasing hotel performance and delivering measurable results. With 30 years of experience, Prism leverages top industry talent to produce a best-in-class experience that extends from the front desk to the bottom line. Prism currently manages more than 30 hotels for multiple institutional and private owners including urban, suburban and resort destinations. The company has expertise managing all major brands as well as independent destination hotels.  For more information, please visit www.prismhotels.com.