WASHINGTON, DC—The Buccini/Pollin Group is preparing to announce two additional hotel projects, one of which will be in the DC Metro area and another in downtown Portland, OR. The company included that news item as it announced it was promoting Darren R. Anzelone to co-chief investment officer and Brandon S. Flury to vice-president in order to manage the locally-based private company's aggressive growth path.

BPG plans to continue to grow its portfolio through acquisitions in 2014 and expects to add five new properties by yearend, it said. In addition, the company is opening three new hotels during the second quarter of 2014: Homewood Suites Manhattan/New York, Westin Wilmington Riverfront, and Hampton Inn & Suites Christiana.

The company also has two hotels under construction that will open next year: the 310-unit Embassy Suites Manhattan/New York and the 168-room Hampton Inn & Suites Washington, DC in the Capitol Hill/Ballpark District.

BPG is also active in its Delaware home market, having acquired last month the Bellevue Park Corporate Center in Wilmington, a three-building, 305,000-square foot office park, for $61.5 million.

Hospitality, though, appears to be the company's main focus now, including renovation projects such as its ongoing repositioning of the Madison Hotel to its former luxury status. "Assuming nothing drastically unplanned occurs, all metrics point towards the hospitality industry enjoying robust growth for the next two to five years," Anzelone says in a prepared statement. "We will be a very active player during this time."

Instant Insights /

Buccini/Pollin To Announce Hotel Project in DC

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