Hospitality & Tourism  December 9, 2022

Kimpton Hotel sells at a loss to Brown Palace owner

The Texas firm that has owned the Brown Palace Hotel since 2018 has purchased another downtown hotel.

Fort Worth, Texas-based Crescent Real Estate bought the Kimpton Hotel Monaco Denver at 1717 Champa St. on Wednesday.

The firm, which did not respond to a request for comment, paid $50.79 million, according to public records.

That’s significantly less than what the building fetched the last time it sold. Inland American Real Estate Trust paid $75 million for it in October 2013, records show. 

Inland later spun off its hotel holdings, including the downtown Kimpton, into a separate company, Orlando-based Xenia Hotels & Resorts. A Xenia executive…

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