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WASHINGTON, DC-The 17-year-old hotel at the corner of 24th and M streets has officially come under the management of Fairmont Hotels & Resorts as of today, and becomes The Fairmont Washington, DC. Fairmont subsidiary Legacy Hotels Real Estate Investment Trust began the process of acquiring the 415-room hotel–most recently known as The Moncarch Hotel–in October in a $145-million deal that included the assumption of a $51.5-million mortgage. This most recent name change for the luxury hotel property is not the first. Prior to operating as the Monarch, it was known as the ANA Hotel.

“The highly favorable demographics in Washington combined with the quality of the hotel make this an excellent acquisition opportunity,” Legacy vice chairman and CEO William R. Fatt says in a statement on the ownership transition. “We anticipate that the Monarch Hotel will benefit from the Fairmont brand and ultimately from the rebound in the U.S. economy.”

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