OLIVE REAL ESTATE GROUP AND HOTEL EQUITIES BREAK GROUND ON NEW
MARRIOTT HOTEL AT COLORADO SPRINGS AIRPORT
Residence Inn by Marriott offers residents and travelers a hassle-free stay proximate
Colorado Springs Airport
Atlanta, GA – June 22,
2022 – Olive Real Estate
Group, Hotel
Equities(“HE”) Colarelli
Construction and Hotel
Operations
Services announced the
official ground breaking of
the new Residence Inn by
Marriott hotel just minutes
away from the Colorado
Springs Airport Terminal.
Located in Peak Innovation Business Park, the hotel is the first of a two-phase plan to
build a Residence Inn and Courtyard by Marriott, which will be connected by a common
lobby with shared amenities. The hotel will be managed by Hotel Equities, who will
provide development services throughout the hotel’s construction, and is expected to
open in late 2023
“We are pleased to continue expansion of our portfolio in the West and specifically
Colorado Springs,” said Joe Reardon, Chief Development Officer for HE. “As Colorado
Springs businesses and tourism continues to grow, we fully intend to grow with it.”
Operated to feel like a home away from home, Residence Inn by Marriott offers guests
a variety of lodging choices from studio guestrooms to spacious suites, designated work
areas in each room, in-room kitchens, and various other amenities. Additionally, guests
will have access to complimentary wi-fi, onsite parking, onsite food and beverage,
grocery delivery service, dry cleaning services, and use of meeting rooms.
“One of our main goals in building this hotel is to engage and connect our community
with the Colorado Springs Airport and Peak Innovation Park,” said Jim DiBiase,
Principal of Olive Real Estate Group. “Not only will this hotel create jobs in southeast
Colorado Springs, it will provide a much-needed hospitality option for airline employees,
airport passengers, Peak Innovation Park employers, nearby defense contractors and
adjacent Peterson Space Force Base.”
Project partners have prioritized using local vendors, contractors, and subcontractors to
augment growth of the local economy.
Those in attendance at the groundbreaking included hotel owners, operators and
development, City of Colorado Springs Mayor John Suthers, Director of Aviation at the
Colorado Springs Airport Greg Phillips, Brad Rahinsky, President and CEO of Hotel
Equities, as well as various City of Colorado Springs and El Paso County elected
officials and staff.
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About Olive Real Estate Group
Olive Real Estate Group is a recognized leader in the Southern Colorado commercial
real estate marketplace, serving clients as they expand, relocate, develop and invest to
improve business, financial and economic gain in an area ripe with opportunity. Since
1976, Olive Real Estate Group has developed over 5 million square feet of commercial
office, retail, hotel and industrial properties in Colorado Springs. Signature projects
include the Colorado Springs Tech Center, Woodmen Office Campus, and Aerospace
Technology Center Campuses. Learn more at www.olivereg.com.
About Hotel Equities
Hotel Equities is an award-winning full-scale hotel ownership, management and
development firm with a portfolio of over 250 hotels and resorts throughout the United
States and Canada. Fred Cerrone, CHA, serves as Founder and Chairman; Brad
Rahinsky serves as president and CEO. Hotel Equities is an affiliate of 33 Degrees, and
integrated management platform combining market knowledge and industry experience
across a broad range of CRE assets including office, restaurant, retail, mixed-use and
multi-unit residential. For more information on Hotel Equities,
visit www.hotelequitites.com.
About Colarelli Construction
Colarelli Construction is a Commercial General Contractor and Construction Manager
headquartered in Colorado Springs serving Colorado, Arizona, New Mexico, Texas,
California, Kansas, Nevada, and Wyoming since 2003. Colarelli Construction provides
processes and solutions for its clients to ensure that each project is designed to be
uniquely successful. Years of experience has led the firm to successfully complete a
wide variety of project types including tenant finish interiors, healthcare facilities,
religious venues, hospitality establishments, financial institutions, educational
institutions, mission critical facilities, retail spaces, office buildings, arts and
entertainment venues as well as multifamily residential
properties. www.colarelliconstruction.com
Media Contact
Sommer Shiver, Vice President of Branding & Communications for Hotel Equities
(678) 578-4444 ext. 119
