DENVER— A 596-key hotel here has been renamed the Four Points by Sheraton Denver Southeast. The property was formerly the Denver Marriott Southeast, but it couldn’t maintain Marriott’s brand standards and was subsequently converted by owner Host Marriott Corp., according to a local report. However, the local Gaiser and White families, which own the 12 acres of land that the hotel rests upon, are now considering using the property for other means. The families are reportedly thinking of using the property to develop a transportation-oriented project, a seniors housing project or an apartment complex with a retail component. The families would be able pursue those potential projects once Host Marriott’s property lease expires in 2009. The local report goes on to mention that the families are concerned that the Four Points hotel will lack the quality it possessed under the Marriott brand. According to local industry experts, under the Marriott flag, the hotel was only getting an average room rate of $80 to $90. That rate range was not enough to meet Marriott’s standards. Starwood Hotels & Resorts Worldwide Inc. will now manage the hotel.
