Denver Hotel Market 2026
The Hotelier Times · Markets Desk
Denver’s lodging market spans a convention-driven downtown, Cherry Creek and lifestyle pockets, a deep Tech Center corridor, and a busy airport hotel cluster around DIA. Full-year 2025 metro performance averaged occupancy 66.2%, ADR $150.89 and RevPAR $99.88 VISIT DENVER — soft versus 2024 (67.7% / $151.15 / $102.30), while downtown still printed ADR $207.74. Trailing-twelve months through August 2026 show metro RevPAR recovering to $101.97 Madison / CoStar. Landmark sales include McWhinney’s $95 million Thompson Denver buy in LoDo (Jan 2025). Every figure below is linked to its source.
By Nathan Snyder, Editor, The Hotelier Times
Last updated: November 1, 2026. Refresh as new Visit Denver lodging tables, Madison pulses, CoStar extracts, LWHA surveys, and hotel sales are published.
Latest news about Denver
- Keystone Opens Oct. 30; Kindred Begins First Winter Keystone opened Oct. 30 after A-Basin on Oct. 28; Kindred starts its first ski winter as StaySTRA short-term rental occupancy rose.
- Four Seasons Plans Standalone Homes in Denver Cherry Creek Four Seasons and a Cherry Creek JV plan standalone branded residences at 215 Detroit St. — 42 per brand, 41 on developer page.
Denver hotel market at a glance
Two measurement tracks matter and must not be mixed without labels:
- VISIT DENVER — Metro / Downtown / City & County year-end Occ / ADR / RevPAR. FY 2025 metro: 66.2% / $150.89 / $99.88. VISIT DENVER
- Madison Commercial citing CoStar/STR — trailing-twelve and submarket cuts. TTM through Aug 2026 metro: 67.5% / $151.05 / $101.97; CBD: 68.3% / $215.68 / $147.39. Madison / CoStar
A separate Madison Q3 2026 CoStar MSA card (Occ 76.9% / ADR $163.22 / RevPAR $125.49) is a different sample and is not used as the metro headline series on this page.
2024–2025: soft metro RevPAR, record convention spend
Full year 2024 VISIT DENVER: Metro occupancy 67.7%, ADR $151.15, RevPAR $102.30. Downtown: 68.0% / $205.28 / $139.63. City & County: 69.1% / $181.89 / $125.70.
Full year 2025 VISIT DENVER: Metro occupancy 66.2%, ADR $150.89, RevPAR $99.88. Downtown ADR held/up at $207.74 while occupancy slipped to 66.8% (RevPAR $138.85). City & County: 67.7% / $180.82 / $122.50.
Convention demand was a bright spot: Visit Denver reports 2025 total group economic impact $1.022 billion vs $845 million in 2024.
Investment volume 2024: CoStar — roughly $338 million across 29 hotels. CoStar
2026: modest RevPAR recovery, CBD outperformance
TTM through August 2026 Madison / CoStar: metro occupancy 67.5%, ADR $151.05, RevPAR $101.97 (+3.25%). YTD eight-month RevPAR +3.67%. CBD led at +6.27% to RevPAR $147.39 (ADR $215.68, Occ 68.3%). Airport/East held the highest occupancy (70.8%) with RevPAR $98.63. DTC remained the softest RevPAR pocket at $73.56.
Downtown Denver Partnership (April 2026): March 2026 downtown occupancy 69% and RevPAR $150. Notes Hyatt Regency Denver’s $70 million renovation reintroducing 1,100 rooms. DDP
Madison also cites Denver metro cap rates ~8.8% (Aug 2026). Madison / CoStar
Monthly / period tracker
Each row is labeled by sample. Visit Denver metro/downtown/city and Madison/CoStar metro/CBD cuts are separate series — not blended.
| Period | Geography / sample | Occ | ADR | RevPAR | Source |
|---|---|---|---|---|---|
| FY 2023 | Denver Metro | 69.5% | $146.83 | $103.78 | VISIT DENVER |
| FY 2024 | Denver Metro | 67.7% | $151.15 | $102.30 | VISIT DENVER |
| FY 2025 | Denver Metro | 66.2% | $150.89 | $99.88 | VISIT DENVER |
| FY 2025 | Downtown Denver | 66.8% | $207.74 | $138.85 | VISIT DENVER |
| FY 2025 | City & County | 67.7% | $180.82 | $122.50 | VISIT DENVER |
| TTM Aug 2026 | Denver Metro | 67.5% | $151.05 | $101.97 | Madison / CoStar |
| TTM ~Aug 2026 | Denver CBD | 68.3% | $215.68 | $147.39 | Madison / CoStar |
| TTM ~Aug 2026 | Airport / East | 70.8% | $139.28 | $98.63 | Madison / CoStar |
| TTM ~Aug 2026 | Denver Tech Center | — | — | $73.56 | Madison / CoStar |
| Mar 2026 | Downtown (DDP) | 69% | — | $150 | DDP |
Performance by submarket
TTM ~Aug 2026 CoStar cuts via Madison Pulse:
- Denver CBD — Occ 68.3%, ADR $215.68, RevPAR $147.39 (+6.27%)
- Airport / East — Occ 70.8%, ADR $139.28, RevPAR $98.63
- Denver Tech Center — RevPAR $73.56 (softest cited pocket)
Madison / CoStar
Visit Denver does not publish matching free Cherry Creek / LoDo / Union Station Occ/ADR/RevPAR breakouts in the convention-stats extract used here.
Hotel pipeline 2024–27
Metro under-construction / proposed aggregate ~1,600 rooms across ~13 projects (Madison Sep 2026 Pulse). Madison
| Hotel / project | Keys | Brand / owner | Status | Source |
|---|---|---|---|---|
| Populus Hotel | 265 | Independent / Urban Villages | Opened Oct 15, 2024 | Axios / Urban Villages |
| Cambria Downtown RiNo | 153 | Cambria | Opened 2024 | Visit Denver |
| Apiary Belleview Station | 175 | Apiary / Stonebridge | Opened Feb 17, 2026 | Hotel Business |
| All Inn Hotel | 54 | Independent | Opened Mar 2026 | Dave Loves Denver |
| AC Hotel Denver RiNo | 128 | AC Hotels; Allen Sigmon / Lotus / TMS | Opened Jun 18, 2026 | TMS PR |
| Holiday Inn & Suites Commerce City–Airport | 106 | Holiday Inn & Suites | Opened Aug 2026 | Dave Loves Denver |
| AC Hotel Gateway Park / Airport | ~146 | AC Hotels; Voyage Capital | UC; late 2026 target (146 BusinessWire / 147 Gould OM) | BusinessWire / Gould |
| Convention Center Marriott (14th & Stout) | 559 | Marriott | Paused Jul 2026 | Hoodline |
| Virgin Hotels Denver (Fox Park) | 241 | Virgin Hotels | Planned / slipped toward 2027; groundbreaking not confirmed | Dave Loves Denver |
Landmark hotels
Thompson Denver (LoDo) — 216 keys; McWhinney from T2 $95M (~$440k/key) Jan 2025; $64M Värde loan (BusinessDen).
Hotel Teatro — 110 keys; RLJ $35.5M mid-2024; Sage-managed (RLJ PR).
The Inverness Denver, Hilton Golf & Spa — 302 keys; Columbia Sussex $48.5M from Silverwest; JLL brokered (Sep 2025).
Westin Westminster — 370 keys; Columbia Sussex from Wheelock Sep 2025 — reported prices $84.5M (LWHA) and $113M (Commercial Real Estate Direct); both kept.
Populus — 265 keys; opened Oct 2024; Urban Villages.
AC Hotel Denver RiNo — 128 keys; opened Jun 18, 2026.
Brown Palace Hotel and Spa, Autograph Collection — historic downtown landmark (featured photo).
Hyatt Regency Denver at CCC — 1,100 keys; $70M renovation noted by Downtown Denver Partnership.
Recent Denver metro hotel sales
Disclosed 2024–2026 trades below. Housing / shelter conversions are labeled and are not blended into operating-hotel $/key averages. Where sources disagree on price, both figures are shown.
| Closed | Asset | Keys | Buyer | Price | Source |
|---|---|---|---|---|---|
| Jun 2024 | Hotel Teatro | 110 | RLJ | $35.5M | RLJ PR |
| Q3 2024 | Fairfield Cherry Creek — veteran housing conversion | 134 | Tunnel to Towers | $12.7M | BusinessDen / LWHA |
| Q2 2024 | Embassy Suites Hampden — shelter conversion | 205 | City of Denver | $21M (LWHA) / ~$30.9M city package | LWHA / denvergov |
| Jan 2025 | Thompson Denver | 216 | McWhinney | $95M | BusinessDen |
| Q2 2025 | Hampton Downtown | 151 | Delta Denver | $23.75M | LWHA |
| Q2 2025 | Hampton DIA — receivership exit | 122 | Denver Airport Lodging | $15.2M | LWHA / BusinessDen |
| Sep 2025 | Inverness Denver | 302 | Columbia Sussex | $48.5M | JLL / Mile High CRE |
| Sep 2025 | Westin Westminster | 370 | Columbia Sussex | $84.5M (LWHA) / $113M (CRE Direct) | LWHA / CRE Direct |
| Q3 2025 | HGI Arvada | 139 | Olympia | $34.85M | LWHA |
| Apr 2026 | Holiday Inn Park Hill — apartment conversion | 310 | HotelShift / Voyage | $9M | BusinessDen |
| Sep 2026 | Home Towne Studios Thornton | 133 | (buyer not named in Pulse) | $8M | Madison Pulse |
| Sep 2026 | Home Towne Studios Aurora | 133 | (buyer not named) | $6M | Madison Pulse |
CoStar 2024 volume: ~$338M / 29 hotels.
Investment volume and distress / capital context
| Item | Figure | Source |
|---|---|---|
| Denver hotel sales 2024 | ~$338M / 29 deals | CoStar (Jan 17, 2025) |
| Thompson Denver | $95M; $64M Värde loan | BusinessDen |
| Inverness Denver | $48.5M; JLL | JLL / Mile High CRE |
| Westin Westminster | $84.5M (LWHA) vs $113M (CRE Direct) | LWHA / CRE Direct |
| Hampton Inn DIA | $15.2M receivership exit Q2 2025 | LWHA / BusinessDen |
| AmericInn 7010 Tower Road | Foreclosure initiated Aug 2025; ~$3.55M principal; Serene | BusinessDen |
| Holiday Inn Express Wheat Ridge | CMBS ~$8.8M; SS since Jul 25 2024; DSCR −0.14x; Occ 48%; LNR; receiver / being sold | cmbs.news |
| Warwick Denver | $23.0M CMBS; current; DSCR 0.99x; Occ 65%; watchlist since Aug 2026 | cmbs.news |
| Hilton Denver Dual Brand | $54.65M; current; matures Dec 11, 2026; DSCR 2.41x | cmbs.news |
| Sheraton Denver Downtown | $180M refinance Dec 2025; current; DSCR 1.19x | cmbs.news |
Visitors and demand drivers
- Visit Denver convention tables: 2025 group economic impact $1.022 billion vs $845 million in 2024.
- Downtown Denver Partnership: April 2026 foot traffic at 95% of 2019; 16th Street daily activity +13% YoY; large CCC meetings (e.g., AAD / APS Physics Summit ~25,000 attendees in April 2026).
- Madison flags Sundance Film Festival move to Boulder (~120,000 attendees anticipated) and DIA expansion completion targeted 2027 as forward demand catalysts.
City of Denver lodger’s tax / TOT monthly series and Colorado Hotel & Lodging Association Rocky Mountain Lodging Report monthly tables for 2025–26 were not compiled into this pack.
Top owners, operators and brokers
Public-source short list (not a featured-partner roster):
Owners / buyers: McWhinney (Thompson + Union Station / Dairy Block); RLJ (Teatro); Columbia Sussex (Inverness + Westin Westminster); Voyage Capital / HotelShift; Olympia (HGI Arvada); Stonebridge (Apiary); Allen Sigmon / Lotus / TMS (AC RiNo).
Brokers: JLL (Inverness); Madison Commercial (Front Range listings / Pulse commentary).
Lenders / special servicing: Peachtree (AC Gateway); Värde (Thompson); LNR (Wheat Ridge SS); Serene (AmericInn foreclosure).
Operators / data: Sage Hospitality; Visit Denver; cmbs.news; LWHA; CoStar via Madison.
Denver hotel market FAQ
What is hotel occupancy in Denver in 2026?
Denver metro occupancy was 67.5% for the 12 months through August 2026 (Madison / CoStar), up from 66.2% for full-year 2025 (Visit Denver).
What is hotel RevPAR in Denver?
Metro RevPAR was $101.97 for the 12 months through August 2026 on an ADR of $151.05 (Madison / CoStar). Downtown (CBD) ran a $215.68 ADR and $147.39 RevPAR over the same period.
How did downtown Denver hotels do in 2025?
Downtown Denver ADR rose to $207.74 in 2025 while occupancy slipped to 66.8%, for RevPAR of $138.85 (Visit Denver).
What is the biggest recent hotel sale in Denver?
McWhinney bought the 216-key Thompson Denver in LoDo for $95 million in January 2025.
What new hotels opened in Denver in 2026?
The 175-key Apiary Belleview Station opened Feb. 17, 2026, and the 128-key AC Hotel Denver RiNo opened June 18, 2026.
Sources and methodology
We use published figures only. All money figures are USD. Visit Denver metro/downtown/city and Madison/CoStar metro/CBD samples are labeled separately and never blended. Conflicting figures (Westin Westminster $84.5M vs $113M; Embassy Suites Hampden $21M vs ~$30.9M; AC Gateway ~146 vs 147) are kept side-by-side. Housing/shelter conversions are labeled. The Madison Q3 CoStar MSA card (76.9%) is not used as the metro headline series.
- VISIT DENVER convention & lodging statistics
- Madison Commercial, Denver Hotel Market Pulse September 2026
- Downtown Denver Partnership, April 2026 Data Update
- BusinessDen — Thompson Denver $95M
- RLJ — Hotel Teatro
- JLL — Inverness Denver
- Mile High CRE — Inverness $48.5M
- LWHA Q4 2024 / YTD sales surveys
- CoStar — Denver hotel transaction volume 2024
- CRE Direct — Westin Westminster $113M
- cmbs.news — Holiday Inn Express Wheat Ridge
- CSV companions in
markets/denver/