The 151-room all suite-hotel in Washington's historic FoggyBottom district is once again under the management of PotomacHospitality Services after a four-year absence. PHS managed thehotel from 1976 to 1997, when Starwood Hotels & ResortsWorldwide acquired the property for a reported $19 million. Theuniversity purchased One Washington Circle for $21.5 million forinvestment purposes early last year, and called on PHS to supervisethe property again.
"GW gave us back the management, so it was like coming home,"says PHC executive vice president Don Minkler. "In order to becompetitive, you need a first-class product, and they arerenovating it so it will be a first class property." PHS has notrevealed the cost of the upgrade.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
