The JW Marriott in Cherry Creek has sold to DiamondRock Hospitality Co., a Bethesda, Md., real estate investment trust for $72.6 million.
But to visitors, it will be business as usual since the seller, Sage Hospitality and the Sage Restaurant Group, have signed a long-term management agreement to run hotel operations, catering, room service and the restaurant Second Home.
Sage, which operates several Denver-area hotels — including the historic Oxford in LoDo, and the funky Curtis Hotel on 14th and Curtis streets — bought the JW Marriott five years ago with its partner JP Morgan from CDS Hotel Investors, a group led by local developer Charlie Biederman.
“From our perspective, it’s great because we’re staying on, and we’re excited about having Diamond Rock involved,” said Walter Isenberg, principal at Sage Hospitality. “They will be a great owner of the hotel. We are looking at other opportunities with them.”
Sage operates more than 60 hotels in 26 states, and has more than 25 years’ experiencing managing and developing more than 400 hotels.
DiamondRock owns a portfolio that includes 23 premium hotels and resorts.
The JW Marriott opened in June 2004.
