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Colorado - Wed. 07/09/25 |
A Free Business Publication from Alpine Bank
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HYATT REGENCY DENVER UNDERGOES $70 MILLION RENOVATION AMID INDUSTRY CHALLENGES
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The Hyatt Regency Denver at the Colorado Convention Center, at 650 15th St., is undergoing a $70 million renovation of its 1,100 guest rooms, hallways and elevator landings on 33 floors. The work is being done by floor to keep the hotel open for at least 70 percent occupancy, general manager Greg Leonard said. Construction is about a third of the way done. The upgrades include new lighting, walls, ceilings, floors and chandeliers. Construction started in January and is “right on schedule” to finish in mid-March of next year. In the guest rooms, hardwood floors will be installed with new couches, bedding, headboards, desks, TVs and new open closets. The bathrooms of each room will be completely remade with new tiling, flooring, a glass shower, new vanities and a lighted mirror.
The renovations are the first at the hotel since some “minor” updates in 2013 and 2014. The renovations are also being completed as the hotel negotiates with its workers who claim that the hotel has not followed through on its promises to increase wages to $1 over the minimum wage the city established earlier this year.
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- Denver Business Journal, 07.07.25
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SOULCYCLE CO-FOUNDER LISTS COLORADO ESTATE FOR $29.5 MILLION
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Elizabeth Cutler, co-founder of SoulCycle, the indoor cycling brand, is putting her roughly 8,100-square-foot home in Telluride on the market for $29.5 million. In 2006, she started SoulCycle in New York with business partner Julie Rice. The two grew the company to 60 studios before departing in 2016, said Cutler, who is now a venture capitalist and is about to open a vintage furniture store in New York. The fitness brand is now owned by Equinox. The home was purchased through a trust for $4.175 million in 2013.
Cutler expanded the footprint of the site by buying the lot next door. In the main house, she added a mudroom, a game room, an office, a bunk room and two additional guest suites, giving the property a total of seven bedrooms. She built a separate structure to serve as a bathhouse and “wellness sanctuary” with a lap pool, sauna and steam room. The property also has a yoga-and-meditation room and multiple outdoor patios. Located roughly a mile outside of Telluride, the roughly 5-acre property is set among cliffs, waterfalls and tall aspen and pine trees. The sale price includes the home’s custom furnishings as well as a fleet of e-bikes and a tiny electric car for easy travel to and from town. One of the two garages has charging facilities.
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- Wall Street Journal, 07.07.25
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COLORADO RAPIDS SCORE NEW JERSEY SPONSOR IN KIEWIT CORP.
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The Colorado Rapids soccer team has secured another partner that will appear on players’ jerseys. Omaha-based construction and engineering company Kiewit has entered an 18-month partnership that includes signage on jerseys with an option to extend into 2027 with the professional soccer team. Under the deal, Kiewit’s logo will appear on the right sleeve of all Colorado Rapids primary and secondary jerseys, Rapids 2, Rapids Academy, and a new kit that’s scheduled to debut July 16. Kiewit will also be “prominently featured” on in-venue branding on match days, “fan-facing marketing platforms" and “collaborative community initiatives.” The new jersey will debut at Friday night’s match. Kiewit, which has over 1,600 employees based in Colorado, is also the official construction and engineering partner for the team. It is the largest general contractor in the state by revenue and has its regional headquarters campus in the southern suburban city of Lone Tree.
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- Denver Business Journal, 07.04.25
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'F1' IS APPLE'S HIGHEST-GROSSING THEATRICAL FILM EVER
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“F1: The Movie” hasn’t even reached the checkered flag of its theatrical run, but it’s already Apple’s best film release ever. The film, distributed by Warner Bros. Discovery, zoomed past $293 million at the global box office over the weekend. This outpaced Ridley Scott’s “Napoleon,” which generated $221 million during its run in 2023, to become Apple’s highest-grossing theatrical release.
“F1” has benefited greatly from its partnership with IMAX. Before production, Apple and the film’s top creatives reached out to not only secure the use of IMAX’s camera technology, but also a three-week release in its theaters. “F1” has generated $60 million of its total global haul from IMAX theaters, a little more than 20 percent of its total gross so far. Domestically, the film has generated $27.4 million in ticket sales through IMAX screenings, about 25 percent of the film’s ticket sales in the U.S. and Canada.
While the film is nearing $300 million in global ticket sales, it still has a few more laps to go in order to be profitable for Apple. The movie cost between $200 million and $300 million to make, and an estimated $100 million to market. The studio is also splitting receipts with Warner Bros. and theaters. Apple has gained momentum in the pop culture space with shows like “Ted Lasso,” “Severance” and “The Studio” and was the first streamer to win the best picture award at the Oscars for 2021′s “Coda.”
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THE BASALT STORE SELLS $2.3 MILLION WINNING LOTTERY TICKET
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A Basalt store sold a winning ticket from the Colorado Lotto+ Saturday, July 5, drawing. The individual, who won the $2.3 million jackpot, purchased two tickets for a total of $4 from The Basalt Store, a general store in Basalt. The individual went back to the store to check whether the ticket won, only to be told to report to the Colorado Lottery Grand Junction office for more information. The cash value for the jackpot works out to $1.15 million. As of the morning of Monday, July 7, the individual had not yet claimed their prize and has remained unidentified. The winning numbers were 14, 17, 19, 22, 29 and 39. This is the second time in two years that an upper-Roaring Fork Valley store has sold a winning lottery ticket. In August 2024, a man from Florida purchased a $5.7 million winning Lotto+ ticket from Sundance Liquor and Gifts.
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MESA COUNTY HOME LISTINGS UP, MEDIAN PRICE AT $425,000
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The number of home listings last month in Mesa County was up by a third compared to a year ago, but the median home price remained unchanged at $425,000. Bray Real Estate’s monthly Bray report showed:
- There were 664 active listings in May compared to 499 in the same month last year. There were nearly identical sales for the month at 286 compared to 288 in 2024.
- Inventory is highest in Orchard Mesa in the $400,000 to $499,000 range with 31 active listings, followed by the north and Fruita areas in the $500,000 to $749,000 range, each with 28 listings.
- For the year so far Mesa County has recorded 1,159 residential sales for $533 million, which is an 8.5 percent increase in the number of units sold.
- The average home price was up from $400,000 in April to $425,000 in May but was the same as May 2024.
- The number of days on the market for the average home decreased to 53, which is 7 percent lower compared to a year ago.
- The number of homes priced at more than $1 million that have sold is at 42 with the most being sold in the Redlands at 15. Loma has had 12 $1 million-plus homes sold as well.
- In the active listing market of homes at more than $750,000, the Redlands has 49 listings including 23 listed at more than a million.
- The north Grand Junction area has 23 homes listed at more than $750,000.
- The most homes sold so far this year are in the $300,000-$399,000 range with 350 homes sold.
- For current listings, the two top ranges for sale are $500,000-$750,000 at 149 and $300,000-$399,000 at 147.
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- GJ Daily Sentinel, 07.08.25
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COMMUNITY HOSPITAL TO BRING HIGHER QUALITY SERVICES TO CMU SPORTS
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Community Hospital announced last Tuesday that it will make substantial enhancements to its sports medicine partnership with Colorado Mesa University, at no-cost to the school. According to Community Hospital Chief Executive Officer Chris Thomas, this new arrangement builds on a partnership of nearly 40 years. CMU Athletics Director Joan McDermott added that the expanded agreement will further develop its athletes’ competitive edge, bolster recruitment efforts and augment the opportunities available to CMU students with healthcare aspirations. Community Hospital has been the exclusive sports medicine provider at the Copeland Family Athletic Training Room (located in the Maverick Center, 1040 Mesa Ave.) before, during and after games, as well as traveling with teams when needed.
The new contract will add an array of specialized staff: dietitians, sports psychologists, licensed professional counselors, health coaches, on-site physical therapists and athletic trainers, orthopedic physicians and orthopedic surgeons. McDermott added that this partnership will also expand opportunities to CMU students in healthcare majors, as they can make connections with the sports medicine providers on-campus, learn more about the industry and potentially shadow the professionals in action.
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- GJ Daily Sentinel, 07.07.25
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SIX BROADWAY SHOWS COMING TO GJ'S ASTERIA THEATRE
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Six Broadway productions are coming to Grand Junction as part of the new Asteria Theatre Broadway Series. Colorado Mesa University’s new Asteria Theatre facility will host six touring Broadway shows starting in December and running through next spring. Broadway shows in the lineup include:
- “Mrs. Doubtfire” on Dec. 1 and 2
- “Tina — The Tina Turner Musical” on Jan. 27 and 28, 2026
- “Mark Twain Tonight!” on Feb. 4 and 5, 2026
- “The Book of Mormon” on March 10 and 11, 2026
- “Chicago” on April 22 and 23, 2026
- “Hadestown” on May 1 and 2, 2026
Flex passes allowing access to at least four of the six shows will go on sale July 16. Single-show tickets will be available in August. Ticket information is available at CMUstages.com.
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- GJ Daily Sentinel, 07.07.25
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TOWN OF TELLURIDE REVIEWS COMMUNITY SURVEY RESULTS
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The Town of Telluride recently completed its second annual community survey, which is designed to help shape future planning for town projects and services. Telluride communications manager Lindsey Mills presented the results of the survey during the regular town council meeting on July 1. This year, the town collected responses from 446 residents in Telluride, from March 7 to April 23 — which is a 17 percent response rate. The survey was mailed to 2,667 households. Telluride used the National Community Survey metrics to evaluate the “livability” of the town. The questions are broken into 10 different aspects of community livability: economy, mobility, community design, utilities, safety, natural environment, parks and recreation, health and wellness, education, arts and culture, and inclusivity and engagement.
- Telluride did the best in the safety, natural environment, parks and recreation, and inclusivity and engagement categories.
- The local access to trails, clean water, good quality air and recreational operations were all highly rated, and over eight in 10 respondents gave positive responses for the parks and recreation category.
- In Telluride, 78 percent of people rated the quality of life as excellent or good.
- Telluride performed poorly in the affordability category, with only 1 percent of respondents rating the cost of living as excellent or good.
- Only 14 percent said there was sufficient affordable, quality food.
- Only 22 percent said that there was affordable, quality healthcare — well below the national benchmarks.
- Only 12 percent of respondents said the variety of housing options was excellent or good, and 9 percent said there was good availability of affordable, quality housing.
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- Telluride Daily Planet, 07.05.25
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COLORADO PROGRAM OFFERING UP TO $10,000 TO ASPIRING TEACHERS ACCEPTING APPLICATIONS
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The Colorado Dept. of Education has begun accepting applications for the 2025-26 Educator Recruitment and Retention program. Of the almost 2,800 teaching positions still left to hire before the 2024-25 school year, the majority were filled by long-term substitutes, retired teachers and alternative candidates. Nearly 600 positions remained unfilled. Three schools in the state were left without a principal. The Educator Recruitment and Retention program offers up to $10,000 in financial assistance per applicant to help aspiring educators cover the cost of educator preparation program fees, particularly those pursuing teaching careers in shortage areas and who commit to serving in those positions for at least three years. Some of the state’s ongoing educator shortage areas include special education, early childhood education, secondary math and science, and rural communities.
More than 2,000 future teachers have already benefited from the program since its launch in 2022. The department reports that roughly 88 percent of grant recipients remain in Colorado public school classrooms a year or more after receiving assistance, and nearly half say they would not have become teachers without it. The legislature appropriates $5 million annually to the Colorado Dept. of Education for tuition assistance of up to $10,000 per qualified applicant. Last year, demand for the program was nearly double the available funding. Applications for the 2025-26 school year close on Sept. 30, 2025. For more information about the program and eligibility, visit CDE.state.co.us/EducatorTalent.
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- vaildaily.com, 07.07.25
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CATTLEWOMEN HOSTING ALL-WOMEN RANCH RODEO, BARN DANCE IN CLARK
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Routt County CattleWomen leaders were pleasantly surprised when the 13 team spots for their inaugural All Women’s Ranch Rodeo filled in only two weeks including competitors from Routt County, the Front Range, Utah and Wyoming. The all-female teams are ready to show off their skills in the fun competition that raises scholarship funds for students pursuing college to study a topic related to beef production. The event, a first-time offering by the CattleWomen, will include the All Women’s Ranch Rodeo from 3 to 5 p.m. Saturday, July 12 at The Home Ranch, 54880 County Road 129 in Clark. Planned rodeo events include competitions for fastest sorting, loading, ribbon roping and simulated branding. First-, second- and third-place finishes will be rewarded with cash and prizes.
A breakaway roping competition, where calves are roped but not tied, is planned for 5 p.m. for anyone who brings their own horse and rope. The fun day will include a Kid and Mr. Mom competition where some male partners will be asked to compete to be the fastest in traditionally women’s ranching chores such as folding laundry, preparing a meal and then doctoring a cow. A barn dance, cookout and silent auction with donated items ranging from artwork to a load of gravel will start at 6 p.m. and wrap up around 8:30 p.m. Admission at the gate is $20 per carload. More information can be found on the Facebook page for Routt County CattleWomen. For questions, call Hayleigh Aurin at 970-819-6030 or email ali@yampavalleyranch.com.
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- Steamboat Today, 07.05.25
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VOLUNTEERS FOR OUTDOOR COLORADO’S CAIRN PROGRAM ACCEPTING MENTOR APPLICATIONS
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Are you passionate about the outdoors and looking for a meaningful way to give back? Volunteers for Outdoor Colorado is seeking adult mentors for its Cairn Program—a year-long leadership and outdoor education experience for high school students (ages 14–18) along the Front Range. As a mentor, you'll guide a small group of students through monthly outdoor adventures, help foster their leadership skills and play a key role in shaping the next generation of environmental stewards. It's also a great opportunity to grow your own leadership experience in a collaborative, impact-driven setting. Applications are due July 31, 2025. Apply now at voc.org/cairn-applications-mentors.
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- Volunteers for Outdoor Colorado
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KVNF RAFFLES OFF NEW TOYOTA 4RUNNER
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KVNF Community Radio, serving the Western Slope, is raffling off a brand-new 2025 Toyota 4Runner SR5, featuring a 2.4L 4-cylinder engine, 4WD, valued at $45,658. This annual raffle is a fundraising effort used towards KVNF’s operating costs. Tickets are one for $20 or three for $50. Tickets will be sold through Aug. 28. The drawing is Aug. 29 at 10 a.m. Tickets are anticipated to sell out and can be purchased online at kvnf.org/raffle, at the KVNF office, 233 Grand Ave. in Paonia, or at Hellman Motor Co., 750 Hwy. 92, in Delta. The summer raffle is sponsored, in part, by Alpine Bank.
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UPCOMING COLORADO FOOD & DRINK FESTIVALS
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There’s no shortage of ways to spend your time in Colorado. But the many food and beverage festivals are a particularly delicious way to immerse yourself in all the state has to offer, from Palisade peaches and Pueblo green chiles and beyond. Sip complex wines, savor spicy tacos and feast on succulent sweet corn — all while enjoying the stunning scenery and vibrant culture of the Centennial State. Mark your calendar for these can’t-miss culinary events.
- July 12: Colorado Brewers Rendezvous - Back for its 29th year, this beer fest takes place in Riverside Park in Salida. As you sip brews from more than 65 craft breweries across the state, you’ll also be raising money for the Salida Chamber of Commerce and the Colorado Brewers Guild. coloradobeer.org
- July 12-13: Keystone Wine and Jazz Festival - Chiefly, live music played by talented Colorado musicians and lots and lots of wine. keystonefestivals.com
- July 13-20: Crested Butte Wine and Food Festival - Foraging hikes, Champagne sabering workshops, live fire cooking demos, various world wine regions, author talks and more. Cap it all off with an epic grand tasting. cbwineandfood.org
- July 19: Colorado Whiskey Fest - Sip spirits, as well as wine and beer, while listening to live music and hobnobbing with fellow brown liquor aficionados. whiskeyfestcolorado.com
- July 24: The Big Eat - At the Big Eat, which raises funds for EatDenver, you can enjoy food and drink from more than 75 restaurants, bars and beverage brands. eatdenver.com/bigeat
- July 26: Westy Craft Brew Fest - Unlimited samples from more than 35 regional breweries. Also, food trucks and live music. westybrewfest.com
- July 31-Aug. 2: Telluride Reserve - Tastings, seminars, dinners and other scrumptious experiences. telluridereserve.com
- Aug. 2: Heritage Fire - This one-day gathering in Snowmass Base Village celebrates live-fire cooking, local chefs and family farms with gourmet bites and free-flowing beverages. heritagefiretour.com
- Aug. 2-3: Bluegrass & Beer Festival - Make your way to Keystone for this lively two-day fête, which features unlimited craft beer samples and performances by artists like Billy Failing and The Last Revel. keystonefestivals.com
- Aug. 7-10: Vail Wine Classic - Need an excuse for a little weekend getaway? Snag tickets to the Vail Wine Classic — then invite your friends. vailwineclassic.com
- Aug. 15-16: Palisade Peach Festival - Back for its 57th year. Dance to live music on the “Peach Jam” stage, sip libations at the “Peach Pit” bar, shop the vendor market, watch peach cuisine demos hosted by Colorado chefs and nosh on bites from food trucks. palisadepeachfest.com
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MARKET UPDATE - 07/08/2025 Close
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(Courtesy of Alpine Bank Wealth Management*)
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Canadian dollar (per U.S. dollar)
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Mexican peso (per U.S. dollar)
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30-year fixed mortgage rate (Freddie Mac 07/03/2025)
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*Not FDIC insured. May lose value. Not guaranteed by the bank.
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Alpine Bank is an independent, employee-owned organization with headquarters in Glenwood Springs and banking offices across Colorado's Western Slope, mountains and Front Range. Alpine Bank serves customers with retail, business, wealth management*, mortgage and electronic banking services. Learn more at alpinebank.com.
*Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.
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