The Century Casino & Hotel in Cripple Creek is in need of additional guest space for overnight visitors. The company behind the venue, Century Casinos Inc., has announced plans to convert the Palace Hotel, a historic building in Cripple Creek, into a boutique hotel to provide additional hotel space. $5 million will be spent to renovate the property as well as expand the building that was first created 120 years ago.
The casino currently has only 21 guest rooms and will be able to offer an additional 30 rooms with the renovations to the Palace Hotel. The Palace Hotel is located across First Street near the Century Casino and could include an atrium, spa and coffee shop, all on the ground floor. Guests will be able to visit the rooftop where a lounge will be added.
Eric Rose, the Century Casino & Hotel General Manager, stated that the casino has had success with their 21 room hotel over the last couple of years and there is now a need for additional hotel rooms in Cripple Creek. According to Rose, there is not enough guest rooms to support the tourism and gaming industries in the area.
Renovations of the hotel will begin during the fourth quarter and include an expansion, according to Century. According to Peter Hoetzinger, the Co-CEO of Century, an agreement must be reached first to close an alley by the property as well as approval given to the plans for the project. The planning department of Cripple Creek as well as the Historic Preservation Commission must give approval before the project can continue.
The Palace Hotel was constructed in the early 1890s from wood and was the local drug store for the city. The building was then expanded in 1892 to become a hotel. In 1896, the building burned down and had to be rebuilt with bricks. In 1992, the hotel was transformed into a casino almost one year after gambling was legalized in Cripple Creek. By 2001, the property was shut down due inability of the owners to pay gaming fees and was purchased by Century in 2002 for $1.2 million. The building has been vacant for 14 years and now will be used as additional hotel space for the Century brand.