Late this afternoon, the Hilton Hotels logo disappeared from the historic Antlers Hotel in downtown Colorado Springs. The Business Journal called Perry Sanders, who with his partner John Goede, has been under contract to buy the property for several weeks.
Speaking on behalf of their company, Timeless Hotels, Sanders and Goede would only say “Hilton has left the house that Palmer built.”
In other words, it seems certain that deal closed this afternoon. As of 5 p.m., the change in ownership had not appeared on the Assessor’s website. We’ll update as more information becomes available.
Sanders announced he was buying the hotel on Aug. 14, 2015. At the time, he said there was stiff competition for the historic hotel.
“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 in August.
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.
He plans to renovate the hotel on Cascade Ave.
“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.”
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.