Boulder’s iconic Hotel Boulderado sold after four decades under same owner

The storied Hotel Boulderado is under new ownership — and planned renovations and branding updates could reshape the identity of one of Boulder’s best-known landmarks.

Located at 2115 13th St., the Boulderado is the city’s oldest luxury hotel, serving locals and tourists alike since 1909. It is both a local and national historic landmark, and over the years it has welcomed celebrities, politicians and other notable visitors passing through Boulder.

Its owner for the past four and a half decades, Frank Day, is a prominent figure in Colorado’s hospitality industry. He founded the Old Chicago and Rock Bottom Brewery restaurant chains and owns numerous eateries and hotels across the state. He also created the Walrus in Boulder, which began as a restaurant and later became the infamous peanut-shell-encrusted college dive bar at 11th and Walnut streets.

Rumors that Day — now in his 90s — was considering selling the Boulderado had circulated for some time. Those rumors were confirmed in recent months: Day sold a majority share of the historic hotel to AJ Capital Partners, a Chicago-based company that owns the Graduate Hotels chain, which includes more than 35 boutique hotels in college towns across the U.S. and U.K. Day will remain a minority owner.

The change comes at a pivotal moment for Boulder’s hospitality scene. The city was recently named the new home of the Sundance Film Festival, expected to bring tens of thousands of visitors and fill the city’s hotel rooms.

AJ Capital Partners officially became the hotel’s majority owner on March 28. The company plans to remake the Boulderado into a Graduate location. At least some hotel employees appear to be on board with the deal, but the news has also sparked concern among locals who fear the hotel’s unique character could be lost in the hands of a national chain.

The Boulderado: A Pearl Street anchor

The Boulderado’s history goes back to Boulder’s early pioneering days. According to Leonard Segel, executive director of Historic Boulder, Inc., the hotel began as a community effort.

“The people in town thought that we needed a high-end hotel. There were several smaller hotels, but once the university was here in town and families started coming to bring their children to school here, they wanted a really nice place for them to stay,” said Segel.

Locals banded together, formed a local entity and raised money by selling shares to build the hotel — which meant Boulder residents essentially owned it. Designed by local architects William Redding & Son in Italian Renaissance and Spanish Revival styles, the five-story hotel welcomed its first guests on New Year’s Day 1909. It still holds an annual New Year’s Eve party to commemorate its grand opening.

The name “Boulderado” combined Boulder and Colorado so that, according to the hotel’s website, “guests would always remember where they had stayed.” Modeled after Denver’s elegant Brown Palace Hotel, the Boulderado retains much of its original character, including the intricate stained-glass canopy over the lobby and a manual Otis elevator that still takes guests to their rooms.

The hotel quickly became a destination for celebrities and luminaries. Early guests included Helen Keller, Robert Frost, Benny Goodman and Louis Armstrong. It remains a draw for politicians, actors and musicians today.

But the hotel also endured tough times. During the Depression, Segel said, the hotel’s operations were scaled back. By the 1960s, the Boulderado had become more of a lower-income residence hotel. In the 1970s, interest in restoration grew, and the building was designated a landmark in 1977.

Day bought the hotel in 1980 and made numerous renovations to restore and modernize the building. He added features like a new elevator that could accommodate wheelchairs.

Over the years, the Boulderado became a key anchor in the redevelopment of downtown Boulder — until the St. Julien Hotel opened in 2001.

The Boulderado “was the main flagship building hotel downtown, and it was one of the components that helped Pearl Street to be as successful as it is,” Segel said. “You have a character-rich, historic, lovely lodging center with really great food and music played there.”

Rumors — and reassurance

Speculation has been swirling online about how the hotel might change, with some people fearing it may lose its unique personality.

One Reddit post reads, “RIP Hotel Boulderado: The hotel is being purchased by a college sports-themed hotel group. They are killing the name ‘Boulderado’ which is just the first step in stripping off the charm The Boulderado created over 100 years. Get ready for cheap updates and cheesy, soulless, tacky sports decor.”

Another commenter responded, “Usually, I wouldn’t care about something like this, but that’s actually a huge letdown. Boulderado was such a cool, unique hotel. The character is what sets it apart from others.”

Wrote another, “That would be sad. Boulderado is a classic spot and a piece of history that should be preserved.”

While the sale has been confirmed, at least some of the speculation appears to be untrue. According to hotel employees, the Boulderado name is not going away, and it’s not at all clear that the new owners plan to strip the hotel’s historic decor.

Segel noted that the building’s landmark designation applies only to its exterior, not the interior. Still, he said, he hopes the new owners will preserve the building’s character.

“Historic Boulder is very hopeful that the new owners will appreciate the loving care and the history in all the ornament, the detail, the layout of the spaces, especially in the original lobby space — [and that] they will caretake that as well as Mr. Day has done,” he said.

“I would anticipate that they’re going to want to build on what Mr. Day is already accomplishing, and the people before him, to elevate the building to its kind of grandeur.”

What’s next for employees and the hotel

Sam Blundell, general manager of the hotel’s bars and restaurants, told Boulder Reporting Lab the new owners were drawn to the Boulderado partly because of its historic character and its popularity. He said he doesn’t expect major changes.

“[The people at AJ Capital Partners] buy places that are working correctly and try to put their own spin on it, try to make them a bit better,” he said. “Not a lot’s going to change, really.”

According to Blundell, the Graduate branding won’t be added until after renovations are complete. It’s unclear how much the company is spending on upgrades, or how much was paid for the hotel, as those involved were asked to sign non-disclosure agreements.

Blundell called the coming changes “exciting” and said employees are curious and optimistic. Everyone is keeping their job titles, pay and seniority — no one is being asked to re-interview.

“People love working for Frank Day,” Blundell said. “He really took a long time and a lot of care in negotiating the sale. He really cares about his employees.”

“It’s a great comfort to the people who work here to know Frank’s still going to be a big part of things — that he’s still going to be in here every week and still have a voice.”