Thierry Rignol bought the LoDo property for $6.3 million in August and originally hoped to reopen it within weeks.
The four-story, 18-room hotel and nightclub has been closed since the pandemic began but two people were shot inside in May.
The May 8 violence, which was caught on tape, resulted in an arrest. Meanwhile, the hotel may be sold off after an auction failed to raise $7.9 million.
“It’s just an asset. I’m not emotionally connected to it,” co-owner Amin Suliaman told BusinessDen.