Business

May 9, 2013 9:19 PM by Juice Godfrey

New partners found for proposed hotel near DIA

AURORA, Colo. (AP) - Economic development leaders in Aurora have found new partners for a proposed Gaylord brand hotel and conference center near Denver International Airport.

The fate of the project was in question after Gaylord Entertainment sold its hotel brand to Marriott International Inc. and said last year that it was re-examining its building plans.

The Aurora Sentinel reports economic development officials said Thursday that Houston-based RIDA Development Corp. will now develop and own the project. AREA Property Partners will finance the project, whose costs are estimated at more than $800 million.

Marriott will operate it.

The 1,500-room hotel is expected to open in 2017, providing an estimated 2,500 jobs.

State and city leaders have agreed to provide up to $381.4 million in tax incentives over 30 years to the project.

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