BETHESDA, MD-Bethesda Suites Marriott Hotel has found a new owner in DiamondRock Hospitality Co., which recently purchased the 276-room hotel from Rock Spring Park Hotel LP in a $41.6 million transaction. Developed in 1990 in the I-270 technology corridor off I-270 and I-495, the 11-story hotel also features nearly 4,400 sf of meeting space.

According to Montgomery County records, the property has a current assessed value of approximately $33.5 million. The property will be submitted to a renovation, but it will continue to carry the Marriott flag under the new ownership.

“Bethesda Suites Marriott represents a very high quality asset in an excellent market with strong cash flow,” says DiamondRock chairman and CEO Bill McCarten. DiamondRock, which got its start in July with a $210 million stock offering, has a strategic relationship with Marriott International Inc., which owns $30 million in company shares.

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