WASHINGTON, DC—Atlanta-based Songy Highlands snapped up its second hotel in the DC area this week and if all goes well, it will be announcing soon that it has made another purchase -- an office building in the District that it will convert to a hotel.

The company just put a bid in for the property and will know within 30 days or so whether it will get it. If it doesn't, there are other opportunities to target. "We are coming the DC area market every week looking for deals," CEO David Songy tells GlobeSt.com.

Songy Highroads put the Washington DC area on its short list of hotel markets about ten years ago. It wasn't until 2013 when it was actually able to make a purchase. Either the company was outbid ("the DC hotel market can be difficult for outsiders," Songy says) or it was put off by what it saw as too high prices.

But in 2013 the company saw its opportunity. It purchased an 11-story, 91,000-square-foot former office building and converted it into the the Hyatt Place DC/Downtown/K Street, a 164-room hotel that traded this summer to RJL Lodging Trust, setting a high-water mark for select-service hotels at $415,000 per key.

When Songy acquired the office building in 2013, "the hotel market in DC was just barely entering recovery mode. We knew that by the time the conversion of the office into a hotel was complete, the recovery would be underway and we could find a buyer."

Already pricing for stabilized hotel plays in the District is a bit too rich for the company, which sets itself a budget of between $30 million to $100 million for a purchase, which includes any renovations. But it sees the same recovery dynamics emerging in the suburbs.

This week it acquired the Hyatt Fairfax at Fair Lakes, a full-service, 14-story hotel in Fairfax with 316 rooms. Songy plans a $14 million renovation for this property, which will include converting 30-60 of the guestrooms into extended stay rooms.

Next week, who knows? The bid for the office will be pending but now that the timing is right, the company wants to establish a greater foothold here. Songy doesn't have specific number in mind as it seeks out acquisitions; rather the company knows the right deal for it when it sees it.

It also knows the right city as well. That list Songy has of areas in which the company wants to have a presence? It's a short one: Atlanta, Houston, south Florida and -- now, finally -- the DC area.