AWH Uses Tech to Acquire Broomfield Hotel

AWH Partners paid $29 million for a 212-key, dual-branded Residence Inn/Fairfield Inn & Suites hotel property in Broomfield, Colo. The acquisition uses the company’s proprietary digital intelligence platform developed to pinpoint under-valued assets in the hospitality industry that are prime for revenue growth. The hotel will now be managed by Spire Hospitality, a subsidiary of AWH Partners.

AWH’s Chad Cooley added, “The acquisition price of $137,000 per key is a substantial discount to replacement cost for a high-quality asset under two of Marriott’s strongest brands. The investment offers risk-adjusted returns with a 9.5% going-in cap rate for a recently built, well-branded asset in a growth market. The property’s strong and steady historical cash flows and competitively priced long-term fixed rate financing auger exceptional returns, according to the firm’s analysis.”

Located between Denver and Boulder, Broomfield is one of Colorado’s fastest-growing communities, largely a result of growth from the aerospace, energy, life sciences and technology industries.