Host Acquires Grand Hyatt Washington, DC
Thursday July 19th, 2012 - 8:31AM
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WASHINGTON—Host Hotels & Resorts acquired the 888-room Grand Hyatt Hotel here for approximately $400 million.
The 25-year-old hotel includes more than 43,000 sq. ft. of meeting and event space and is located in Washington's East End in easy access to historic monuments, museums and the convention center. It was last renovated in 2007-2008.
Jones Lang LaSalle Hotels represented the seller, a limited liability corporation and a trust, in the transaction.
Tags: Hospitality Brokers Ownership
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.