Hotel Denver, another Glenwood lodge sold to Aspen-based hospitality investor
Carvers still have Redstone Castle on the market; historic landmark closed for the winter
Longtime Glenwood Springs hotel owners April and Steve Carver closed last week on the sale of the Hotel Denver and one other Glenwood lodge in which they were partners.
Closing took place Nov. 9 on the sale of the Hotel Denver in downtown Glenwood for $15 million to Aspen investor Tony Sherman, who owns Terrapin Investments.
Sherman also purchased the Hotel Glenwood Springs, located at the base of the Glenwood Caverns Adventure Park tram, for $9 million. The Carvers were in partnership with other investors in that property.
Sherman could not be reached for comment Sunday. His company also owns the Hampton Inn and Holiday Inn Express properties in Glenwood Springs.
The dual sales signal the close of 30 years in the Glenwood Springs hotel business for the Carvers.
They bought the Hotel Denver in August 1991 and made some major renovations with April at the helm as hotel manager while Steve worked as a CPA with Dalby, Wendland & Co. He retired from there in June 2018.
The Carvers helped open the adjacent Glenwood Canyon Brewpub in 1996 and retain their share of ownership in that business along with Jim and Bill Carver (no relation), who own Carver Brewing in Durango.
“It’s been great,” Steve Carver said in a Sunday interview. “We bought the Hotel Denver when Seventh Street was kind of run down and not really the place to go. After a slow transformation, it’s been a healthy business.”
Along the way, they rebuilt the former Rex Hotel on the corner of Seventh and Blake to the east and turned it into the Denver Centre, which now houses Simply Massage and other businesses. The Carvers have also been instrumental in helping facilitate the recent Seventh Street renovations.
The Hotel Denver also underwent a makeover from the former brass-fixtured atrium with its throwback formica ceilings into a boutique hotel that has become a mainstay in Glenwood’s tourism economy.
Both the Hotel Denver and Hotel Glenwood Springs have 72 rooms.
The Carvers entered into partnership along with Glenwood Caverns owners Steve Beckley and other investors in building what’s now known as the Hotel Glenwood Springs in 2002 when the tram was being built. It operated under the AmericInn chain until 2013, when they decided to make it an independently owned lodge.
The Carvers still retain ownership of the Redstone Castle, which also is listed for sale for more than $19 million after the Carvers purchased it in 2016 for $2.2 million. They made several million dollars more in renovations there, including reopening guest rooms for overnight stays, before putting it on the market in September 2020.
The castle is closed to guests and tours for a second consecutive winter season, partly due to ongoing COVID-19 concerns, Steve Carver said Sunday.
If it hasn’t sold by spring, they plan to reopen it, he said. The Carvers currently live at the castle, which is more formally known as Cleveholm Manor, built by coal mining baron John Cleveland Osgood in the late 19th century.
Senior Reporter/Managing Editor John Stroud can be reached at 970-384-9160 or firstname.lastname@example.org.
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