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Denver's Brown Palace Hotel sold to Dallas group

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News,Business

DENVER (AP) — Denver's historic Brown Palace Hotel has been sold to Crow Holdings Capital Partners, part of Dallas real estate giant Trammel Crow.

The Denver Post reports (http://tinyurl.com/mczkv3z ) Crow Holdings Capital announced Wednesday it bought the hotel from a group that includes Quorum Hotel and Resorts. The price wasn't disclosed.

Quorum has managed the hotel for 26 years and officials say it will continue to do so under the new owners.

The triangular-shaped building, built in 1892, was an early example of an atrium-style hotel. It has hosted several U.S. presidents and other dignitaries, including members of the Beatles.

The complex includes the 241-room Brown Palace and a 231-room Comfort Inn.

The previous owners spent $19 million on improvements in the past five years. Last spring, a facade restoration project got underway.

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Information from: The Denver Post, http://www.denverpost.com

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