Denver/metro and Gaylord going global
Gaylord Rockies hotel construction to begin by year's end
Oct 29, 2015 by Ed Sealover Denver Business Journal
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An international consortium of eight banks will loan the developer of the Gaylord Rockies Resort and Convention Center $500 million, allowing construction of the 1,500-room hotel to begin by the end of 2015 with a goal of opening around Thanksgiving 2018.
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What about that lawsuit this has now been appealed to the Colorado Supreme Court?
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Ira Mitzner, president and CEO of Rida Development Corp., said Thursday that the money is coming regardless of the outcome of a lawsuit seeking to strip $81.4 million in state incentive funding from the project.
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I had wondered if this thing would ever get built. I am so delighted that finally, finally Denver metro will have a resort hotel that can compete with the less exclusive places in Phoenix/Scottsdale. The newer 950 room
JW Marriott Phoenix Desert Ridge Resort & Spa comes to mind. With respect to the
The Westin Kierland Resort & Spa I've always found irony that the mixed-use destination which includes the ULI award winning Kierland Commons was designed by Design Workshop, Inc. (Denver, CO) and Communication Arts, Inc. (Boulder, CO).
To be only the fourth destination in the Gaylord family is awesome for the Denver/Aurora metro area. I know for a fact that the state of Arizona and Mesa have stood ready should Gaylord show any renewed interest in that site. Maybe Denver gained advantage partly by playing "hard to get."
I have to believe that Rida Development Corp., in looking at the downside risk concluded that worst case scenario was that they're 10 minutes from the 5th busiest airport in the United States. I would assume that is a nice floor to have.