Purchase Part of a Major Capital Expenditure and Property Improvement Plan
Denver – November 25, 2015 – Silverwest Hotels LLC (Silverwest), a Denver-based hotel investment and management company, today announced the acquisition of The Inverness Hotel and Conference Center on behalf of Silverwest Hotel Fund(s) I/IA. The purchase expands the company's holdings in Colorado and signals the beginning of a multimillion dollar capital expenditure and property improvement plan for the property. The Inverness has been a Destination Hotels property since 1995.
“We're thrilled to be acquiring The Inverness Hotel and Conference Center and add it to our growing portfolio of hotels and destinations,” said Charlie Peck, co-founder of Silverwest. “We look forward to implementing a plan that will substantially enhance the hotel's appeal and our guest's experience. While the transition will be seamless for our guests, we're looking forward to announcing the changes we'll be bringing to the property,” he added.
Silverwest will begin renovations in 2016 designed to enhance and improve all areas of the hotel. Total renovation of guest rooms is scheduled to begin in November 2016 and is expected to take 3-4 months to complete. Destination Hotels will continue to operate and manage the property. Operations management will remain unchanged, and all reservations for guests, group meetings, weddings and catering clients will remain intact.
Veteran hotel industry executives Charles Peck and Edward Mace founded Silverwest in 2013. The partners have more than 50 years of combined experience in hotel development and management, and currently have several projects in the Rocky Mountain region, including Denver. Their experience also includes hotels under franchise agreements from Hilton, Marriott and Starwood.
Originally opened as the Scanticon Denver Hotel and Conference Center in 1989, the 302-room hotel includes 60,000 square feet of conference space and other venues and an 18-hole golf club with access by hotel guests. The Inverness Hotel and Conference Center has been operated and managed since January 1, 1995 by Destination Hotels, which operates more than 40 properties across the U.S. In 2015, the award-winning full-service hotel and conference center situated in suburban Denver underwent a $1.3 million renovation to its lobby, entrance, food and beverage outlets and event corridors. For more information, please visit www.invernesshotel.com.
