A rendering of Highgate’s proposed hotel. (Public records)
More hotel rooms are in the works near Denver International Airport.
New York-based hotelier Highgate purchased a 5.4-acre lot at 18503 E. 57th Ave. for $4.4 million last week, eight months after submitting plans to the city for an extended-stay hotel on half the site.
The price amounts to $18.60 per square foot for the land between Argonne Street and Tower Road, about a 15-minute drive from DIA.
The company is planning to build a four-story, 126-room Stayright hotel at the northwest corner of 57th Avenue and Argonne Street, Highgate entitlement manager Jenifer Tedrick told BusinessDen.
Tedrick said the company hasn’t opened a Stayright hotel yet but several are in the works. She hopes to open the Denver location by late next year or early 2027.
The hotel would take up a little under half of the 5.4 acres. The remaining 3 acres, fronting Tower Road, would be developed into future restaurant and retail space.
Jay Landt, Highgate’s broker, said the company is under contract to sell the second portion.
“They got a much better price for their hotel pad because they went through the extra step,” said Landt, who works for Colliers.
Mohinder Sandhu, the seller, purchased the whole lot for $3.25 million in January 2024.
“We basically bought it to prevent competition because we own … gas stations around the corner,” Sandhu said.
He’s developed five gas stations around the metro since starting his business, Sandhu Investment Group, in 2013. The investor also owns 20 acres farther east at Alameda Avenue and Powhatan Road that he’s looking to sell.
“That area is just blowing up,” he said of the Denver metro’s far eastern real estate market.
Highgate, meanwhile, has 87,500 hotel rooms under management, spanning the U.S., Europe and Latin America, its website states. The company operates everything from luxury and resort hotels to Holiday Inns and Hiltons.
The hotelier also owns a Residence Inn by Marriott near the intersection of Zuni Street and Speer Boulevard in LoHi.
A rendering of Highgate’s proposed hotel. (Public records)
More hotel rooms are in the works near Denver International Airport.
New York-based hotelier Highgate purchased a 5.4-acre lot at 18503 E. 57th Ave. for $4.4 million last week, eight months after submitting plans to the city for an extended-stay hotel on half the site.
The price amounts to $18.60 per square foot for the land between Argonne Street and Tower Road, about a 15-minute drive from DIA.
The company is planning to build a four-story, 126-room Stayright hotel at the northwest corner of 57th Avenue and Argonne Street, Highgate entitlement manager Jenifer Tedrick told BusinessDen.
Tedrick said the company hasn’t opened a Stayright hotel yet but several are in the works. She hopes to open the Denver location by late next year or early 2027.
The hotel would take up a little under half of the 5.4 acres. The remaining 3 acres, fronting Tower Road, would be developed into future restaurant and retail space.
Jay Landt, Highgate’s broker, said the company is under contract to sell the second portion.
“They got a much better price for their hotel pad because they went through the extra step,” said Landt, who works for Colliers.
Mohinder Sandhu, the seller, purchased the whole lot for $3.25 million in January 2024.
“We basically bought it to prevent competition because we own … gas stations around the corner,” Sandhu said.
He’s developed five gas stations around the metro since starting his business, Sandhu Investment Group, in 2013. The investor also owns 20 acres farther east at Alameda Avenue and Powhatan Road that he’s looking to sell.
“That area is just blowing up,” he said of the Denver metro’s far eastern real estate market.
Highgate, meanwhile, has 87,500 hotel rooms under management, spanning the U.S., Europe and Latin America, its website states. The company operates everything from luxury and resort hotels to Holiday Inns and Hiltons.
The hotelier also owns a Residence Inn by Marriott near the intersection of Zuni Street and Speer Boulevard in LoHi.
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