Wednesday January 8th, 2014 - 9:53AM
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.”