Best Western Plus sells for $11.5M

Longmont’s Best Western Plus Plaza Hotel and Convention Center, a fixture along Ken Pratt Boulevard for more than 35 years, has new ownership. Virginia-based Shamin Hotels will now own and operate the 210-room hotel along with the more than 30,000square-foot convention center formerly held by well-known Longmont developer and business owner Susan Pratt. While Shamin Hotels CEO Neil Amin said hotel visitors will likely not notice major changes immediately, rebranding and renovations could come eventually. “For the short term at least, we will keep the brand as is,” he said. “We want to first get in there and learn about the property and the market before making big changes.” But, Amin said later this year the company is planning “a refresh,” a smaller scale facelift that could include fresh paint, carpets, and furniture. Shamin Hotels operates 51 lodging establishments — most located in the mid-Atlantic region — under the Hilton, Marriott, Intercontinental, Starwood and Hyatt brands. The Best Western will be the company’s first property in Colorado. “We see a lot of growth opportunities (in and around Longmont),” Amin said. “It’s a great place to live. Its a great place to visit.” Al Linton, president of the hotel’s former ownership group Plaza Hotel Corporation, said Shamin Hotel’s interest in the property bodes well for the hospitality industry in Longmont. “It certainly appears that Longmont is very attractive” to groups such as Shamin Hotels, who “are all about coming in and improving upon what is already here,” he said. In a statement, Shamin Area manager Sunil Patel echoed Linton. He acknowledged the Pratts’ contribution to the city’s hospitality industry and said Shamin Hotels “look(s) forward to building upon the strong foundation they have created.” Amin said there is no plan for a staffing shakeup at the hotel, nor is the company looking to simply flip the property — which Boulder County records show was purchased for $11.5 million— for a quick profit. “We’ve enjoyed getting to know the existing team there and look forward to continue working with them,” he said. “We are looking to invest for the long term.


Tuesday, February 13, 2018


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