Sage Hospitality Announces the Sale of Halcyon, a Hotel in Cherry Creek
March 11, 2019
Denver, Colo. – (March 11, 2019) – Sage Hospitality, one of the nation’s leading hotel investment, development and management companies, along with Denver-based developer BMC Investments, announced today the sale of Halcyon, a hotel in Cherry Creek to Rockbridge Capital. Dallas-based Makeready will take over management of the property. In addition to the 154-key hotel, Rockbridge has acquired the Halcyon and B&GC brands, which were developed and trademarked by Sage Hospitality.
“It is a tremendous success for Sage Hospitality to sell this hotel and two of the associated brands. Our teams put hard work into developing and operating these assets, and this transaction is evidence of their commitment and dedication to excellence,” said Walter Isenberg, President and CEO of Sage Hospitality. “Additionally, the sale and significant price achieved is a testament not only to the depth of talent of our Real Estate Investment team, but also the strength of Sage’s Brand Development Organization. We are proud to be able to hand off a successful business unit to Rockbridge and their partners.”
The Departure brand was not sold to Rockbridge, and as a result Sage Restaurant Group (SRG) announced that last night was the final dinner service at Departure Restaurant + Lounge in its current location. The restaurant will close its doors in Cherry Creek following breakfast service today, March 11, 2019.
“We thank the Denver community for their loyal patronage of Departure over the past three years,” said Brent Berkowitz, Chief Operating Officer of SRG. “Although this is an end for our Cherry Creek location, it is also the beginning of a new chapter – there are many exciting opportunities in the works, and we look forward to serving the Denver community again in the future.”
Sage opened Halcyon in Denver’s Cherry Creek North neighborhood in August 2016, along with modern Asian restaurant Departure Restaurant + Lounge and underground speakeasy B&GC. In the short time since opening, the hotel achieved stellar financial performance and garnered multiple honors and awards, excellent reviews and immense attention from the press. Halcyon was the first hotel to open in Cherry Creek North in more than a decade with the intention of elevating the travel and community experience in the neighborhood.
“We look forward to continuing to grow Sage’s real estate investment program and delivering stellar outcomes like this to our investors in the future,” said Jason Altberger, Chief Investment Officer. “My team is dedicated to the company’s continued growth and expansion in the real estate investment sector, and our primary focus will remain on acquiring and developing urban lifestyle hotels and restaurants within key markets.”
To learn more about Sage Hospitality and the company’s continuously growing portfolio of hotels, visit www.sagehospitality.com.
Sage Places Featured in 36 Hours in Denver in the New York Times
November 20, 2018
We’ve got our home town dialed in, check out this New York Times article featuring some of the best things to do in Denver featuring Union Station, The Cooper Lounge, Halcyon and B&GC.
Foliage and Fire Pits: Cozy Getaways for the Perfect Fall Weekend
August 24, 2018
It’s an honor to be featured in AFAR in general but we were thrilled to show up twice in this article geared toward fall getaways. Perry Lane Hotel in Savannah and Assembly at The Logan in Philadelphia are featured.
New hotel coming to mixed-use project near DIA
May 3, 2018
Sage is excited to partner again with McWHINNEY on a new-build hotel in Pena Station Next, a transit-orientated, mixed-use development in Denver. The Hyatt Place Pena Station Next will open in 2019 and Sage will be the management company.
Sage Hospitality Hires Senior Vice President, Managed Development
April 24, 2018
Sage has hired Jamey Cua in the newly specified role of Senior Vice President, Managed Development. In this role, Cua will be responsible for securing long-term management contracts, continuing to grow the hotel management portfolio of the dynamic hospitality company.
Sage Hospitality Expands Portland Hotel Portfolio with Hotel Modera
January 9, 2018
On January 1, 2018, Sage expanded our relationship with Pebblebrook Hotel Trust, beginning management of Hotel Modera in Portland, Oregon. This is Sage’s fourth hotel in downtown Portland, joining the Nines, Courtyard Portland City Center hotel and AC Hotel Portland.
Fort Collins’ Destination Hotel, Restaurant, & Bars
January 3, 2018
The Elizabeth Hotel, Emporium Kitchen & Wine Market, Magic Rat Live Music and Sunset Lounge opened to rave reviews in booming Fort Collins, Colorado. Sage’s goal of creating places that people to go truly shines in this location, Eater agrees (with amazing photos).
The Elizabeth Hotel, part of Marriott’s Autograph Collection, opens in Fort Collins, Colorado
December 6, 2017
The long awaited addition to Marriott’s Autograph Collection in Colorado has finally opened it’s doors to the city of Fort Collins, Colorado. The Elizabeth Hotel sits in the heart of Old Town with walkability to famous breweries and access to Emporium Kitchen & Wine Market, a new concept by Sage Restaurant Group.
Two New Hilton Hotels Now Open in Boulder
November 29, 2017
Sage Hospitality is happy to announce the opening of two Hilton properties in Boulder, Colorado. The Embassy Suites Boulder and the Hilton Garden Inn Boulder hotels opened together on November 28th to a small ribbon cutting with the Boulder Chamber of Commerce.
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We’re getting ready for 2019…
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