Investment

U.S. hotels change hands as occupancy improves

As travel resumes and occupancy improves, companies are buying and selling hotels across the United States. Here are three recent transactions. 


Washington, D.C.

Commercial real estate investment, development and lending platform Driftwood Capital has acquired the Hyatt Regency Fairfax,a 316-room hotel in the Washington, D.C., submarket of Fairfax, Va., for an undisclosed price. The hotel is set to be rebranded to a Hilton flag and will be managed by Driftwood Capital’s sister company, Driftwood Hospitality Management.

“This is a well-located asset that we were able to acquire at a great basis below its replacement cost, in one of the largest commercial office markets in the country, home to over 26 million square feet of office space dominated by government agencies, defense contractors and technology companies,” said Johannah Rodriguez, managing director of acquisitions with Driftwood Capital. “Further supporting this asset’s long-term growth outlook is the lack of new lodging supply in this submarket. The only new hotels in this property’s competitive subset are located over 10 miles away.”

Read more on our our sister publication Hotel Management