X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-The 36-year-old One Washington Circle Hotel is in the process of getting a major facelift and will be upgraded to a “metropolitan sanctuary” by April 1, 2002. Owner George Washington University is in line with the area’s emerging trend of creating boutique-style hotels.

The 151-room all suite-hotel in Washington’s historic Foggy Bottom district is once again under the management of Potomac Hospitality Services after a four-year absence. PHS managed the hotel from 1976 to 1997, when Starwood Hotels & Resorts Worldwide acquired the property for a reported $19 million. The university purchased One Washington Circle for $21.5 million for investment purposes early last year, and called on PHS to supervise the property again.

“GW gave us back the management, so it was like coming home,” says PHC executive vice president Don Minkler. “In order to be competitive, you need a first-class product, and they are renovating it so it will be a first class property.” PHS has not revealed the cost of the upgrade.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.