Penrose returned to Colorado Springs as a successful entrepreneur. During this time, he met his future wife, widow Julie Villiers (Lewis) McMillan. Spencer and Julie met and became friends through overlapping social circles in the city. Although Penrose had formerly pledged to stay a bachelor, he changed his mind. The two married in London, England, on April 28, 1906, and traveled in Europe for their honeymoon. Inspired by his stays in grand European hotels and resorts, Penrose returned to Colorado Springs intending to build his own hotel.