Long-Stalled Hotel Project Near Denver International Airport Gets New Life with Third Owner and Fresh Construction Loan

The journey of a hotel development near Denver International Airport has been tumultuous, with bankruptcy filings and loan defaults from previous owners. However, a new chapter is beginning as Voyage Capital, a Dallas-based hotel investor, recently acquired the partially completed hotel at 16161 E. 40th Ave. for $21.6 million from Galaxy Hotels Group. Voyage secured a $24 million construction loan from Peachtree Group to move the project forward.

The hotel saga began in 2009 when WPB Hospitality initiated the construction of a Best Western hotel on the site. After facing financial troubles, WPB went into foreclosure and bankruptcy, leading to a legal battle over the property. American Lending Center eventually foreclosed on the property in 2019, selling it to Galaxy Hotels for $7.5 million. Galaxy Hotels secured a $22.7 million loan for construction but defaulted on it three years later, prompting Peachtree Group to step in as the new lender.

Wanda Bertoia, the former owner of WPB, recently sold another distressed hotel nearby under the Alpine Hospitality brand. The hotel project’s new owner, Voyage Capital, is optimistic about completing the development and bringing a much-needed boost to the area near Denver International Airport.

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