Hospitality & Tourism  March 31, 2025

New owner to turn Hotel Boulderado into Graduate by Hilton

Renovated hotel will retain Boulderado name

The historic Hotel Boulderado. Christopher Wood/BizWest
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BOULDER — Hotel Boulderado’s long-time owners have sold the property — Boulder’s first luxury hotel, which opened in 1909 — to a real estate investment firm that plans to renovate the lodge and bring it under the Graduate by Hilton portfolio.

The renovated property will retain the Hotel Boulderado name, according to its new owner, Nashville-based Adventurous Journeys Capital Partners, which took over the historic property at 2115 13th St. from local hospitality legends Frank and Gina Day.

“A phased renovation is slated to commence later this year. Upon completion, the invigorated Hotel Boulderado will join the Graduate by Hilton collection,” AJ Capital Partners said. “The hotel will remain open for business while repairs and improvements are underway, and the anticipated completion date is Spring 2026. The Hotel Boulderado name will be preserved, along with the property’s signature architectural elements and welcoming sense of place that shape its timeless appeal.”

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Graduate is a collegiate-themed Hilton brand with locations in many college towns, including Chapel Hill, North Carolina (University of North Carolina), Palo Alto, California (Stanford University) and Tucson, Arizona (University of Arizona).

An AJ Capital representative declined to provide any financial details on the transaction. A warranty deed for the deal was not recorded by Boulder County as of Monday morning, and property records still show the Hotel Boulderado’s owners as Boulder Hotel Ltd. LLP and Dia Dorado LLC, a holding company registered by Frank Day. 

“We are thrilled and honored to partner with the Days, who have been passionate stewards of this beloved property for over four decades,” Ben Weprin said in a prepared statement. Weprin is the CEO of Adventurous Journeys Capital Partners and a founder of the Graduate Hotels brand. “Together, we look forward to honoring The Boulderado’s unmistakable spirit, celebrating its history, and introducing thoughtful touches that will elevate the guest experience for generations to come.”

Frank Day, the 92-year-old Boulder restaurateur who co-owns the Boulder-born restaurant group Concept Restaurants Inc., bought the Hotel Boulderado in 1980. Among the groups Frank Day and his wife and business partner Gina Day have owned or helped start are Rock Bottom Restaurants Inc., Old Chicago, Walnut Brewery and the ChopHouse & Brewery; Colorado’s first microbrewery, Boulder Beer; iconic Boulder watering hole The Walrus; the Table Mountain Inn in Golden; Downtown Boulder Inc., a nonprofit organization focused on promoting downtown Boulder; and the Day Family Foundation.

“You can’t talk about the history of the Boulderado without recognizing the enormous and risky investment that Frank Day and his partners made in that hotel, which was in a dilapidated state,” Boulder Chamber CEO John Tayer told BizWest. “But they saw the future vision for a historic, renovated hotel becoming premier accommodations for our community.”

Frank Day inducted last year into the Denver & Colorado Tourism Hall of Fame

“We have chosen to partner with AJ because of the magnificent work they’ve done with other historic hotels like the Chicago Athletic Association, Randolph Hotel in Oxford, and Rusacks in St. Andrews.” the Days said in a statement. “They have the wherewithal to take the Boulderado to the next level.”

Hotel Boulderado’s long-time owners have sold the property to an investment firm that plans to renovate the lodge and bring it under the Graduate by Hilton portfolio.

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A Maryland native, Lucas has worked at news agencies from Wyoming to South Carolina before putting roots down in Colorado.
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