PKF Hotel Market Demand and Financial Analysis - DIA Business ...

The Westin Denver International AirportHotel Market AnalysisCompetitive Property Number Five (Airport)Crowne Plaza Denver International AirportLocationDescriptionAddress:15500 E. 40th Avenue Date opened: 1982Denver, CO 80239 Guestrooms: 255Distance from Subject:12.4 milesAmenitiesPicture••••••••••••Terrace RestaurantAtrium Lounge50,000-square-foot convention centerApproximately 70,000 square feet of meeting spaceIndoor swimming pool and whirlpoolFitness centerExecutive floorsGift shopHigh-speed Internet access throughout the hotelLaundry/valet serviceDenver Airport shuttle, 24 hours a dayBusiness centerNotesThe Crowne Plaza is located approximately 12 milessouthwest of the proposed Subject in the GatewayCorporate Park. The hotel opened in 1982 and features255 guestrooms. The hotel is a convention center hotel,featuring over 50,000-square-foot convention center andover 70,000 square feet of meeting space. The hotel isaffiliated with the InterContinental Hotels Group andbenefits from IHG's guest reward program and marketingefforts. This hotel represents one of IHG's full-serviceproducts.Historical PerformanceThe Crowne Plaza achieved an occupancy level andADR below the competitive market average in2011. It should be noted that the Crowne Plazaachieves one of the lowest ADRs in the competitiveairport lodging market.IV-12