Delayed Colorado Springs Airport Hotels Target New Construction Date | Subscriber content
The pandemic may have delayed plans for two new hotels near the Colorado Springs airport, but it hasn’t stopped them.
Now, nearly two years after the initially planned start of construction, work is expected to begin in early 2022 on the $ 62 million project, which would add hotels and a possible conference center as part of the Peak Innovation Park to rapid growth of the airport.
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Jim DiBiase, director of COS Hotel Partners Project 1, said the first of three construction phases for the dual-brand resort is expected to begin in April and end in spring 2023.
It will consist of a four-story, 139-room Residence Inn on 6 acres southeast of Milton E. Proby and Peak Innovation Parkways, just south of the airport passenger terminal.
He said a second phase, which includes a 127-room, four-story Courtyard by Marriott hotel, would begin a year after the Residence Inn opened.
The project includes a 12,000 square foot conference center that would be built if demand for meeting space at both hotels is high enough, DiBiase said. The project’s development group, which includes Atlanta-based Hotel Equities, plans to buy the Peak Innovation Park site for $ 1.7 million in March, after getting approval from city officials.
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The two-hotel complex was proposed in mid-2019 and was scheduled to begin construction in the spring of 2020, but the project was delayed after the COVID-19 pandemic slowed travel and tourism.
Passenger numbers at airports have exploded from low-cost Dallas-based giant Southwest Airlines began serving Colorado Springs in March with 13 daily flights to Chicago, Dallas, Denver, Las Vegas and Phoenix.
âWe think the demand (for these hotels) will be extremely high; there are no other hotels in the business park,â DiBiase said.
âWe estimate that these hotels will operate at an occupancy rate of 80%. The demand drivers for these hotels are strong with the military, Amazon, Aerospace (Corp.) and Northrop Grumman. The city continues to grow and the area continues to grow. airport is developing with this. “
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Peak Innovation Park includes distribution center, delivery station and sorting facility for online retail giant Amazon, a space combat laboratory under construction by a non-profit research organization Aerospace company, offices for defense contractor Northrop Grumman, a military terminal and a regional firefighting complex for the United States Forest Service.
DiBiase said its partners could also be bidders to develop a full-service hotel on a nearby site with multiple restaurants, ample meeting space and other amenities in about five years.
DiBiase and Hotel Equities are also partners in a 261-room hotel slated to open in April in the 400 block of South Tejon Street in downtown Colorado Springs, which will carry Marriott’s SpringHill Suites and Element brands.
2 hotels to be built for the first time at Colorado Springs airport