Investor books $29M Broomfield hotel deal

A New York-based hospitality real estate investor recently bought the Residence Inn and Fairfield Inn Boulder Broomfield/Interlocken hotels at 455 Zang St. in Broomfield for $29 million.

Broomfield real estate records show that AWH Broomfield Hotel LLC, an entity registered to the address of AWH Partners LLC, bought the hotels, which share a single building, last month from MB Hospitality (RIBROOM) LP.

The Residence Inn side of the property has 122 suites geared to long-term stays, according to Travel Boulder, while the Fairfield Inn wing has 79 rooms and 11 suites.

The hotels were built in 2017, according to county property records.

MB Hospitality is registered to a post office box in Dallas, according to the Colorado Secretary of State’s office. The entity could be affiliated with Marriott International Inc. (Nasdaq: MAR), which which controls the Fairfield Inn and Residence Inn brands.

According to AWH’s property portfolio, the company’s other Colorado hotel holdings include Embassy Suites Denver Southeast and Embassy Suites Colorado Springs. AWH representatives did not immediately respond to a request for comment Tuesday.

Gogo stock ascends with improved EBITDA outlook

Gogo Inc.’s (Nasdaq: GOGO) stock price took off in early trading Tuesday after the Broomfield-based provider of broadband connectivity services for the business aviation market increased its 2024 EBITDA guidance.

The company posted sales of $100.5 million in the third quarter of 2024, up 3% compared with the same period last year.

Gogo’s net income of $10.6 million decreased in the most recent quarter, down 49% year over year.

The company reiterated its previous full-year revenue guidance of $400 million to $410 million but increased its EBITDA projection from a range of $110 million to $125 million to a spread of $120 million to $130 million.

During the third quarter, Gogo entered into an agreement to buy Satcom Direct Inc., a Melbourne, Florida-based in-flight communications company, in a deal that could be worth more than $600 million.

“Our Satcom Direct acquisition will turbo-charge Gogo Galileo penetration of the global underpenetrated Business Aviation and Military/Government markets,” Gogo CEO Oakleigh Thorne said in a prepared statement. “Unprecedented demand for both Galileo and Gogo 5G will drive equipment revenue in 2025, and growth in profitable recurring service revenue beginning in 2026.”

Gogo’s stock price at 12:20 p.m. Tuesday was $8.50, up nearly 30% on the day.

Several Connect for Health Colorado plans now include UCHealth

UCHealth and its affiliate providers in Northern Colorado now are more accessible on Connect for Health Colorado, the state’s health-insurance exchange, UCHealth announced Monday.

Anthem Pathway CO Option, Cigna Connect and Cigna Connect CO Option plans now include UCHealth Poudre Valley Hospital in Fort Collins, UCHealth Medical Center of the Rockies in Loveland and UCHealth Greeley Hospital in Greeley.

Open enrollment began Friday 1 and runs through Jan. 15 on the exchange, and Colorado residents are able to choose from a variety of plans that will begin Jan. 1.

Coloradans seeking coverage that includes in-network access to all of UCHealth, CU Medicine, Intermountain Health and other affiliates can choose from the Select Health Value and Select Health Value CO Option plans. New to the insurance exchange in 2024, Select Health represents a collaborative effort between UCHealth and Intermountain Health.

Additionally, the Anthem Pathway plans feature UCHealth and CU Medicine providers in-network. However, UCHealth is not in-network with any Anthem Pathway Essentials plans. The Anthem Pathway Colorado Option is not available in metro Denver, including Boulder County, this year.

The Connect for Health Colorado website can help individuals and families compare different health insurance plans and determine if they qualify for financial assistance.

— BizWest reports