Watergate Hotel to Open Next Summer

WASHINGTON, DC—The infamous Watergate Hotel, which is undergoing a major renovation, is set to open next summer as a luxury hotel and resort after being closed for seven years.

Euro Capital Properties is investing $125 million into the storied property that includes gutting the property, adding 100 rooms, ballroom space, a spa, a rooftop lounge and an upscale restaurant that will feature “American cuisine with a French twist,” according to the Washington Post.

First opened in 1967, the hotel was the site of the 1972 burglary that led to resignation of then President Richard M. Nixon.

Years later Monument Realty purchased the property and planned to turn the property into condominiums.. However, the property went into foreclosure and was purchased at auction by Euro Capital for $45 million in 2010.

Room rates will begin at $450, according to Euro Capital principal Jacques Cohen. “What we're doing is bringing true luxury but in a modern and fresh way that also really celebrates the mid-century modernism of the Watergate complex and the Watergate hotel building,” Cohen says. See story in the Washington Post.