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December 21, 2015

Marriott Secures Loan for Gaylord Rockies Resort and Convention Center




gaylord rockies

Marriott International, Inc. has announced it has closed on a $500 million construction loan to build the new 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. 

The new venue will have over 485,000 square feet of total meeting and convention space. There will be three ballrooms, ranging from 8,000 to 35,000 square feet, as well as a 175,000 square foot Exhibit Hall including 55,000 square feet of Flex Space. Additionally, there will be 81 breakout rooms. Outside, the venue will offer 20,000 square feet of covered space, plus three event lawns ranging from 5,000 to 22,000 square feet. 

Other planned amenities include eight dining outlets, retail shops, a spa, salon and fitness center and an indoor / outdoor pool, lazy river and lap pool. The hotel will be 10 minutes from Denver International Airport

Marriott will manage the hotel and convention center under a long-term contract. Michael Kofsky will serve as the director of sales and marketing for the hotel, leading 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 several years after opening. Marriott said it expects 80 percent of guests to be net new visitors to the state. 

Wells Fargo Bank acted as lead agent on the deal, with an eight bank consortium including co-lead agents Bank of America and Bank of Nova Scotia, as well as Sumitomo Mitsui Bank, Credit Agricole, CIT Financial, MidFirst Bank and US Bank. An owner and development partnership led by RIDA Development Corp. and Ares Management, L.P. also worked with Marriott on the deal. 

Visit meetgaylordrockies.com


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