Boulder’s iconic Hotel Boulderado has a new majority stakeholder after more than 40 years under the same ownership, with interior renovations and a rebrand planned.

Chicago-based AJ Capital Partners, the firm behind the collegiate-themed, Hilton-branded Graduate Hotels chain, acquired a majority stake in the 119-room hotel from longtime Colorado restaurateur Frank Day.

The deal closed Friday. Terms weren't disclosed, but hotel staff told Boulder Reporting Lab that the Boulderado will eventually undergo renovations and then rebrand as a Graduate property.

Day, who will remain a minority owner, is a major player in Colorado hospitality. The founder of the Old Chicago and Rock Bottom Brewery chains helped shape Boulder’s food and beverage scene, including creating the now-closed Walrus Saloon. 

Day purchased the Boulderado at 2115 13th St. in 1980, restoring the historic 1909 hotel and overseeing decades of upgrades.

The transition comes as Boulder gears up for a tourism boost. The Sundance Film Festival recently announced it will relocate to the city in 2027 — a shift expected to bring tens of thousands of visitors and renewed attention to Boulder’s hotel stock.

While the Boulderado’s landmark status protects the exterior, there are no restrictions on interior design. Still, hotel leaders said they don’t expect sweeping changes.

“[AJ Capital Partners developers] buy places that are working correctly and try to put their own spin on it,” General Manager Sam Blundell told BRL. “Not a lot’s going to change, really.”

Blundell said Day negotiated the sale carefully and plans to remain involved.

“He’s still going to be in here every week and still have a voice,” Blundell said.