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The hotel will be a 104-room Courtyard by Marriott to be located on the east side of Centerra, at the northeast corner of Interstate 25 and Highway 34.
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The hotel is planned to open in early 2015.
“Loveland serves as an ideal travel destination and our hotel partner continues to play an important role in supporting the growth and exposure of our local community through a city-wide lodging and regional marketing program,” Jay Hardy, McWhinney vice president and general manager of Centerra said in a statement.