Originally appeared in Mile High CRE in September, 2018
McWHINNEY and Stonebridge Companies recently partnered to deliver the fourth hotel in Loveland’s Centerra master-planned community. Construction is underway on the Courtyard by Marriott property, which is planned to open in late 2018. In addition, the partnership has also announced plans for two additional hotels, supporting demand for hospitality offerings with six total hotels in Centerra.
The Courtyard property is located in southeastern Centerra at the I-25 and U.S. 34 intersection off Sky Pond Drive and Centerra Parkway, just south of The Promenade Shops at Centerra. The four-story, 67,000-square-foot hotel will feature 101 guest rooms, bistro, lounge, 1,200 square feet of meeting space, fitness center, market, pool, hot tub and guest laundry. The hotel marks the third Marriott property in Centerra. 2WR + Partners serves as the architect and Coe Construction as the general contractor for the project.
With occupancy and demand showing strong growth, the partnership is also planning to deliver two additional hotels in Centerra under the Homewood Suites and Hilton Garden Inn brands. According to the Rocky Mountain Lodging Report, the revenue per available room calculation for Loveland has increased 4.6 percent in the July 2018 year-to-date period, compared to the same period in 2017. With the Loveland market’s continued expansion, demand drivers for hospitality include nearby UCHealth-Medical Center of the Rockies; corporate demands from major Northern Colorado employers such as Agrium, Inc.; transient leisure traffic from Rocky Mountain National Park; events at Larimer County Fairgrounds; and oil and gas exploration and production.
The Homewood Suites and Hilton Garden Inn hotels will offer approximately 100 keys each. Planned as a dual-brand property, one wing will operate as the Homewood Suites hotel and another as the Hilton Garden Inn. The hotels will share the lobby and community spaces. Aligning with the latest industry trends, the dual-brand property concept consolidates operations, offering efficiency as well as the best qualities from both brands to guests.
The 135,000-square-foot, five-story dual-brand property will feature a restaurant and bar, pool, fitness center and meeting space. The hotels will sit immediately south of the Courtyard and will mark a total of three Hilton hotels in Centerra.
“Jointly, the three hotels will add more than 300 guest rooms to the area, catering to focused-service business travel and extended stay needs,” said David Crowder, general manager of Centerra and vice president of community development for McWHINNEY. “We feel that Centerra is the ideal setting to support Northern Colorado’s continually growing demand for hospitality services. The properties are centrally located in the heart of the region and easily accessible to the multitude of community amenities here at Centerra, including shopping, dining and entertainment at Promenade Shops at Centerra and the Centerra Marketplace as well as Chapungu Sculpture Park.”
McWHINNEY serves as the owner, asset manager and co-developer of the properties, with Stonebridge Companies as the co-developer and hotel manager. The partnership has previously delivered three hotels in Centerra, with the Residence Inn by Marriott, completed in 2005, as the most recent property. The partnership currently has six hotels in operation, including three in Anaheim, Calif.
“Stonebridge Companies is proud to expand its partnership with McWHINNEY,” said Navin C. Dimond, founder, president and CEO of Stonebridge Companies. “As a valued partner in our continued growth, our relationship with McWHINNEY has been very rewarding to date. We look forward to supporting the success of these newest properties with our philosophy of Distinguished Hospitality™ central in all facets of the hotels.”