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.”

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 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.



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 © 2023 ALM Global, LLC. All Rights Reserved.