International hotel group purchases Denver parking lot for $3.5M

DENVER — A U.K.-based hotel group purchased a 12,500 square-foot parking lot next to Coors Field for $3.5 million.

InterContinental Hotels Group plans to build a 150-room eight-story hotel, BusinessDen reports.

The acquisition is priced at $280 per square foot.

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IHG is not the only group to focus on building a hotel in Downtown Denver. Stonebridge Cos., based in Centennial, has a 200-room building planned, as does T2 Hospitality and Focus Property Group.