Tens of thousands flocked to the Rocky Mountains in search of their own personal prosperity.
Winfield Scott Stratton, son of a ship builder and a carpenter by trade, moved out west to Colorado Springs in search of his own fortune. He opened a carpentry and general contracting business and after a few years caught the Gold Rush Fever. He began prospecting for gold and silver in the summer and working his business in the winter. He took metallurgy and mineralogy classes to educate himself. It was 17 years of this lifestyle before he struck gold on the south slope of Pike Peak and claimed one of Cripple Creek’s richest discoveries: Independence Mine.
As the first millionaire of the Cripple Creek Gold Rush, Stratton used his money in many philanthropic ways that have left his name sprinkled about Colorado Springs. One of his endeavors was to establish The Board of Trade and Mining Exchange and construct the present-day Mining Exchange building in 1902. During its 31 years of operation, the trading floor saw upward of $34 million in annual transactions in peak years, making it one of the largest stock exchanges in the world.
New Life
Today, the building serves Colorado Springs as a boutique hotel with whispers and nods to its illustrious past offering adventure seekers little nuggets to find.
The search for treasure continues.
Kemmons Wilson Hospitality Partners purchased the property in 2022 and set to work breathing new life into this old soul of Colorado Springs, while honoring its past.
“There were two sides of the gold rush,” explains Gus Krimm, general manager of the Mining Exchange, “the rugged and the refined.”
There was the movement of western expansion where people and families picked up their entire lives to move west and “manifest destiny” with empty pockets and high hopes. And then there was the success of finding gold, leading to opulence and excess.
Third Space
They focused their efforts on creating an experiential effect versus standard and unimaginative, thus maintaining the soul of what this building has been for the city throughout its existence. Krimm explains they sought to fill a niche with a higher end feel that places guests at the very heart of downtown, creating a third space of sorts.
“We want to host your meetings, events and your guests; we are for the residents of Colorado Springs as well as those visiting,” Krimm explains.
Preserving History
With an airy yet approachably opulent lobby and several seating areas, it’s easy to understand his meaning.
The old trading board, the safe and vault doors as well as other historical elements are integrated into the design, marrying the past with the future. The lobby coffee shop BLK MGK–the other black gold–offers a wide array of beverages including craft coffees for visitors to enjoy, featuring local roaster Hold Fast Coffee Co. There is local art on display in an area called The Vault, curated by Auric Gallery, that will change out quarterly in order to keep things visually interesting. And if an afternoon visit is preferable, Golden Hour, the hotel’s indoor/outdoor bar can provide libations, or a nightcap paired with decadent artisanal bites during shared conversation or while wandering around the lobby looking for little historical nuggets that tell the story of the history of the Mining Exchange.
If an extended stay is on the menu, the redesigned rooms of the Mining Exchange Hotel are an experience all their own. The designer incorporated the high ceilings and exposed brick and wrapped it in the gilt and green of success. Modern amenities offering a nod to the past with leather, white oak, bronze and marble leave a quiet, plush way to savor your time in downtown Colorado Springs.
Stop in for a coffee, a drink, a snack or a stay. The Mining Exchange Hotel looks forward to becoming an integral part of your downtown experience.
Website: https://www.miningexchangehotel.com/
Facebook: @TheMiningExchange
Instagram: @MiningExchange