Perry Sanders, owner of the Mining Exchange, is purchasing a second downtown hotel, the Antlers Hilton hotel on Cascade Ave.
Sanders, who is buying the hotel with a partner, says the deal will close soon.
“I can tell you that this is a serious deal – some of the biggest national names in the business were bidding, there were multiple rounds of bidding, and these little guys from Colorado Springs came out on top,” he said.
Sanders purchased the old Mining Exchange building and spent several years renovating it to turn it into a luxury hotel at the corner of Pikes Peak and Nevada Ave. He also owns Springs Orleans, a downtown eatery that reflects his New Orleans roots.
“We already have plans for renovations, “Sanders said. “The public spaces are fine, but the rooms haven’t been touched for years. We’re going to transform the hotel, just as we did the Mining Exchange.”
Sanders said he plans to bring the same level of luxury to the Antlers that has been successful at the Mining Exchange.
“The Antlers has played such a significant role in the history of Colorado Springs, that my partner and I are extremely excited to be a part of that history and to add the same sort of world-class luxury that I’e tried to add to the Mining Exchange hotel,” he said. “The name Antlers needs to be synonomous with only the finest of things. And we intend to do our level best to make that happen.”
Sanders did not disclose how much he paid for the hotel, and did not disclose the name of his partner, who he said also partnered with him in the $2.45 million purchase of a building at 31 N. Tejon St. in April.
Gen. William Jackson Palmer built The Antlers, which opened in 1883. The original hotel burned in 1898, and was rebuilt in 1901. It operated until it closed in 1964. Later that decade, the hotel was torn down and was rebuilt in the same spot. The property last sold on on Nov. 26 2013, wen it was transferred in foreclosure from CEPA Hotel Owner to MSCI2007 – IQ16 Cascade Lodging LLC. The assessed 2015 market value of of the 2.37 acre, 228,000 square foot property is $22.5 million. In 2007, the hotel sold for $50.3 million.