Foggy Bottom Hotel Trades for $31M

Savills Studley’s Marc Magazine

WASHINGTON, DC–Houston-based Westmont Hospitality Group and Varde Partners have acquired the 95-room hotel at 824 New Hampshire Ave. NW, from George Washington University.  The price was not announced, however a source tells GlobeSt.com that The University Inn traded for $30.5 million, give or take.

The hotel includes a mix of studios and suites, as well as an on-site restaurant, Notti Bianche, on the ground floor. There were multiple bidders for the property, according to Marc Magazine, executive managing director of Savills Studley’s Hospitality Group, who represented George Washington University in the transaction.