Developers today will unveil plans for the Four Seasons Hotel and Four Seasons Private Residences Denver.
The project, at 14th Street between Arapahoe and Lawrence streets, will include a 230-room Four Seasons Hotel and 102 private residences. A news conference will be held at 1:30 p.m. today at the sales center, 1080 14th St.
Partners Michael Brenneman and Jeff Selby worked for more than a year to finance the 50-story skyscraper before striking a deal with London-based Cairn Capital, which is providing $200 million in financing for the project.
In December, the partners sold Denver’s Hotel Teatro, 1100 14th St., to DiNapoli Capital Partners of Los Angeles. Proceeds from the sale also will help pay for the project.
Downtown Denver’s hotel market is in the midst of a major boom. Several new hotels are under construction, and existing properties are undergoing renovations, including a $75 million rehab of downtown’s Embassy Suites Hotel into the Ritz-Carlton Denver.
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BROOMFIELD
Unit of Vail Resorts to manage Aspen hotel
Elysian Worldwide LLC and Lodging Capital Partners LLC announced Monday that they have selected RockResorts International to manage the 92-room Hotel Jerome in Aspen.
RockResorts is the luxury hotel subsidiary of Broomfield- based Vail Resorts Inc. It also manages the Lodge at Vail in Vail and the Lodge & Spa at Cordillera in Edwards.
Chicago-based Elysian Worldwide announced last month that it was buying the Hotel Jerome from Oklahoma Publishing Co. of Oklahoma City.
DENVER
Hotel-occupancy, room rates on rise
Average occupancy rates and room rates rose in March compared with the same month in 2006, the latest Rocky Mountain Lodging Report said Monday.
Statewide, occupancy rates were up 1.3 percentage points, to 66.7 percent. Average room rates increased by $10.36, to $140.18.
For metro Denver, average hotel-occupancy rates were up 1.1 percentage points, to 66.2 percent, compared with March 2006. Average room rates grew by $10.45, to $106.31.
DENVER
Airline disagrees on amount owed to city
Great Lakes Aviation said in a written statement Monday that it disagrees on the amount it owes the city of Denver.
A report from the city’s auditor office claims Great Lakes owes the city $482,244 in various fees and interest on fees for using Denver International Airport from 2000 to 2004.
“The lease between Great Lakes and the City of Denver contains provisions governing the resolution of issues related to that lease, and Great Lakes intends to follow those provisions to attempt to resolve any differences with the City of Denver,” the airline statement said.
DIA manager Turner West said in a written statement the airport’s lease agreements with all airlines provide “a process for working out issues like this.”
WINDSOR
Commerce board OKs trade-zone expansion
An application to expand a foreign trade zone to include a site at the Great Western Industrial Park in the Windsor area has been approved by the Department of Commerce foreign trade zones board.
The Broe Cos., a Denver- based real-estate and transportation-investment company, is developing the park.
DENVER
MarkWest Energy seeks switch to NYSE
Denver-based MarkWest Energy Partners LP announced Monday it filed an application to list its common units on the New York Stock Exchange, transferring them from the American Stock Exchange.
The partnership anticipates its units will begin trading next month on the NYSE.
GREELEY
Swift sale could fetch less than $1.5 billion
Swift & Co., the third-largest U.S. beef and pork producer, may attract a sale price of less than $1.5 billion, Credit Suisse analyst Robert Moskow said.
Closely held Swift said Jan. 22 that it was considering a sale after receiving unsolicited inquiries. Potential buyers include Cargill Inc., Smithfield Foods Inc., National Beef Packing Co., Seaboard Corp. and Brazil’s JBS-Friboi Group, Moskow said Monday in a report e-mailed to clients.
DENVER
BioFuel Energy sets terms of IPO
BioFuel Energy Corp. on Monday set the terms of its initial public offering at 9.5 million shares, with an estimated price range between $16 and $18 per share.
The Denver-based ethanol producer has granted the underwriters an option to purchase up to 1.4 million additional shares to cover overallotments, according to an amended prospectus filed with the Securities and Exchange Commission.
COLORADO SPRINGS
AF Space Command gets new radio system
Air Force Space Command said it will begin using a new land mobile radio system in early May, eliminating current communication gaps in the Colorado Springs area.
NEW YORK
Report says fraud costly to airlines
Airline fraud costs the industry more than $600 million a year, according to a new report from Deloitte and the International Association of Airline Internal Auditors.
Fraud has increased fivefold since six years ago, according to the report. Fraud included counterfeit or stolen tickets, cargo theft, false baggage claims, frequent-flier abuse and bouncing checks, but the biggest losses came from credit-card fraud.
THOUSAND OAKS, Calif.
Anemia drugs boost Amgen’s first quarter
Amgen Inc., the world’s most profitable biotechnology company, reported higher first-quarter profit and revenue Monday on strong sales of its anemia-fighting drugs, but its revenue total for the quarter failed to meet Wall Street’s expectations.
For the quarter ended March 31, Amgen reported net income of $1.11 billion, or 94 cents per share, compared with $1 billion, or 82 cents per share, in the year-ago quarter.
WASHINGTON
Treasury auctions $25 billion in T-bills
The Treasury Department auctioned $13 billion in three-month bills at a discount rate of 4.835 percent and an additional $12 billion in six-month bills at a rate of 4.835 percent.
For a $10,000 bill, the three- month price was $9,877.78, while a six-month bill sold for $9,755.56.
