Dive Brief:
- Nashville, Tennessee-based AJ Capital Partners has acquired Hotel Boulderado in Boulder, Colorado, and will convert the property to the Graduate Hotels by Hilton brand, the firm announced Tuesday in a release obtained by Hotel Dive.
- The hotel will undergo a phased renovation, slated to begin later this year and wrap up in spring 2026, at which time the hotel will join the Graduate portfolio. The property will remain open throughout the revamp and keep the name Hotel Boulderado. AJ Capital declined to share the sale price.
- Hilton acquired the Graduate brand from AJ Capital in March of last year with plans to expand the brand’s portfolio to hundreds of properties globally. This is the brand’s first hotel in Colorado.
Dive Insight:
AJ will revitalize the historic Hotel Boulderado, which first opened in 1908, in partnership with owners Frank and Gina Day. The revamp is “committed to preserving Hotel Boulderado’s architectural splendor,” according to the release, and will redesign guest rooms, refresh public spaces and add food and beverage offerings to the property.
The property — a five-story brick building with a mix of Italian Renaissance and Spanish Revisial architectural influences — is a member of Historic Hotels of America and a listee on the National Register of Historic Places.
Situated in downtown Boulder, the hotel is near Pearl Street Mall, University of Colorado Boulder, Folsom Field, CU Events Center and other sites, according to AJ.
“The Boulderado is more than a hotel — it’s the pride of the city,” said Ben Weprin, CEO of AJ Capital Partners and Graduate Hotels’ founder, in a statement. “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.”
Hilton acquired the Graduate brand from AJ Capital for $210 million last year in a bid to accelerate the company’s lifestyle segment expansion. AJ continues to own Graduate properties.
“With thousands of colleges and universities around the world, we believe the addressable market for the Graduate brand is 400-500 hotels globally,” Hilton CEO Chriss Nassetta said in a statement last March.
Since the acquisition, Hilton has pledged to double its lifestyle portfolio to 700 hotels by 2028. The company also appointed former Graduate Hotels President Kevin Osterhaus to lead lifestyle segment growth.
Graduate opened a hotel near Auburn University’s campus in Auburn, Alabama, in September.
