University Inn to offer special long-term rates to fire evacuees

BOULDER — The University Inn, a 40-room hotel at 1632 Broadway, is offering discounted nightly rates for locals who were displaced by the Marshall Fire and need a longer-term lodging solution. 

“We keep getting calls from all of the people who have lost their houses, but I’m not in residential [real estate] so I really can’t help them out,” Tebo Properties Inc. founder Stephen Tebo said. “But I got to thinking, well, I do own the University Inn.”

Rooms rented for a month will cost $79 per night and weekly stays are $99 per night.

“We think this is the best deal in Boulder County by far,” Tebo said. 

In November 2021, the most recent month with pricing data available from the Colorado Hotel and Lodging Association, Boulder hotels charged an average of $156.30 per night, the highest rate in the Boulder Valley and Northern Colorado. 

The aim of the discount program is to give fire victims “some breathing room and time to get their feet back on the ground” while they find a more-permanent housing solution, said Tebo, whose commercial properties throughout Boulder County were mostly unharmed by the Marshall Fire. 

Those interested should contact the hotel directly to inquire about availability.

Tebo has owned the University Inn, built in 1955, for several decades.

In 2016, Tebo Properties pitched the idea of completely redesigning the hotel but “ran into major complications with the city’s regulations,” Tebo said. Rather, the company decided to renovate the interior,

“Don’t let the outside fool you — the rooms are really amazing,” Tebo joked. 

During the early days of the COVID-19 pandemic, business at the University Inn slowed to a trickle, he said, but visitors have since returned, and occupancy rates were above 90% during last summer’s busy season.

The Marshall Fire came at a particularly inopportune time in the local real estate market’s seemingly never-ending cycle of low inventory and high prices. 

Cities across the Boulder Valley and Northern Colorado faced the tightest supply of homes all year in December, leading to annual highs in median prices, according to data released Monday from Information and Real Estate Services LLC.

Boulder had only 32 active listings last month, and median prices stood at $1.35 million.

The late 2021 fire devastated large swaths of Louisville and Superior, and at least 1,270 residential and commercial buildings were either destroyed or damaged.

President Joe Biden visited the burn zone last week. 

“We believe very, very strongly in giving back to the community,” Tebo said.

BOULDER — The University Inn, a 40-room hotel at 1632 Broadway, is offering discounted nightly rates for locals who were displaced by the Marshall Fire and need a longer-term lodging solution. 

“We keep getting calls from all of the people who have lost their houses, but I’m not in residential [real estate] so I really can’t help them out,” Tebo Properties Inc. founder Stephen Tebo said. “But I got to thinking, well, I do own the University Inn.”

Rooms rented for a month will cost $79 per night and weekly stays are $99 per night.

“We think this is the best deal in Boulder County by far,” Tebo said. 

In November 2021, the most recent month with pricing data available from the Colorado Hotel and Lodging Association, Boulder hotels charged an average of $156.30 per night, the highest rate in the Boulder Valley and Northern Colorado. 

The aim of the discount program is to give fire victims “some breathing room and time to get their feet back on the ground” while they find a more-permanent housing solution, said Tebo, whose commercial properties throughout Boulder County were mostly unharmed by the Marshall Fire. 

Those interested should contact the hotel directly to inquire about availability.

Tebo has owned the University Inn, built in 1955, for several decades.

In 2016, Tebo Properties pitched the idea of completely redesigning the hotel but “ran into major complications with the city’s regulations,” Tebo said. Rather, the company decided to renovate the interior,

“Don’t let the outside fool you — the rooms are really amazing,”…