Marriott International, together with the owner and development partnership led by RIDA Development Corp and Ares Management, announced the closing of a US$500 million construction loan from Wells Fargo Bank as lead agent for construction of the two million square foot and 1,500-room?Gaylord Rockies Resort and Convention Center?in Aurora, Colorado.
The hotel is scheduled to be completed in late 2018.
Marriott will manage the hotel and convention centre under a long-term contract, which is expected to lead to the hiring of approximately 2,500 permanent direct and indirect employees of the hotel. The economic impact of the project is estimated at more than US$7 billion of economic activity for the State of Colorado, with more than 80 percent of guests expected to be net new visitors to the state.
Michael Kofsky will serve as director of sales and marketing for the Aurora, Colorado hotel and will lead a team with the goal of pre-booking more than 1.25 million room nights prior to opening. The hotel is expected to bring over two million visitors to the City of Aurora and the State of Colorado during the first years after opening.
Marriott seals US$500 financing for Colorado complex
