The Brown Palace, Denver’s iconic hotel, is reportedly up for sale.
It’s been only eight years since Crescent Real Estate bought the 241-room Brown Palace Hotel and Spa and the adjacent 231-room Holiday Inn Express.
The real estate company Newmark confirmed to two media outlets that it is handling the sale of the property. There is no publicly listed asking price.
The hotel opened in 1892 and has six food and beverage venues, according to Crescent’s website. Those include Palace Arms, Ship Tavern, Ellyngton’s and Churchill Bar. The Brown Palace has received both the Forbes Four-Star and AAA Four-Diamond awards.
Newmark and Crescent did not respond to requests for comment from Denverite. (And boy did we try.) BusinessDen first reported the story and The Denver Gazette confirmed it.
The real-estate group bought the property for $125 million and later took out a $85 million refinancing package on the complex, according to Hotel News Group. Public records show a Benefit Street Partners senior loan of $62.5 million that’s due in February 2027, according to BusinessDen.
The Brown Palace is famed as one of the oldest and continuously operating hotels in the U.S. And for nearly 80 years, it has hosted an unusual tea time — with winning steers from the National Western Stock Show.
Crescent hired Newmark, a commercial real-estate group, to pitch ideas for potential buyers to improve the hotel. One idea is adding a second ballroom, according to BusinessDen. The Brown Palace currently has a 5,800-square-foot ballroom, a flower shop and spa.
Crescent has experienced a bit of backlash during its ownership tenure. In March 2024, the hotel laid off its valets and doormen to outsource to an out-of-state vendor, rather than directly employing them through the hotel.
In 2025, the hotel went under new management to attempt to win back public support.
