Baywood Hotels Purchases Wyndham Garden Hotel Gaithersburg
Wednesday January 8th, 2014 - 9:53AM EB
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GAITHERSBURG, MD— Baywood Hotels recently purchased the 203-guestroom Wyndham Garden Hotel Gaithersburg here for an undisclosed amount. In the transaction, Hunter Hotel Advisors exclusively represented the seller, a private investment group based in Wichita, KS.
Baywood Hotels, based in Washington, D.C, is planning a major renovation to rebrand the hotel as part of a strategy to better serve the upscale Washington, D.C.-Baltimore market.
“We executed a comprehensive marketing process that resulted in multiple offers,” stated Kyle Stevenson, SVP of Hunter’s D.C. office, who handled the transaction of the seven-story hotel.
“At Hunter, our marketing strategies are producing accelerated closings such as this one, which closed in just 60 days,” said David Perrin, a senior associate at Hunter. “The expanding economy and availability of financing continue to drive sales.”
Tags: Baywood Hotels • Wyndham Garden Hotel • Hospitality • Brands • Acquisitions •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.