Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HERNDON, VA-Ashford Hospitality Inc. is now the official owner of the 316-unit Hyatt Dulles The firm purchased the property from Colony Capital LLC affiliate Dulles Airport Hotel LLC for approximately $73 million. The firm first announced the acquisition in late September.

A $5-million renovation of the 14-story tower was completed before the closing. Ashford is in the midst of upgrading the restaurant and public areas, and is considering an expansion of the lodging facility’s offering of 17,400 sf of meeting space.

Hyatt Dulles’ address of 2300 Dulles Corner Rd. places it near Washington Dulles International Airport and the Smithsonian Air & Space Museum annex. The building was developed in 1989 and underwent upgrades in 1997.

“The hotel’s strong brand and location, along with the recent renovations, position the property to increase penetration in what is already a double-digit RevPAR growth market,” says Dallas-based Ashford president and CEO Monty J. Bennett. The property will continue to operate under the Hyatt flag, with Hyatt continuing its management role under a long-term contract.

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?


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.