The hotel will still operate under the Marriott flag and will bemanaged by the company under a long-term agreement. Molinaro Kogerbrokered the deal on behalf of Ashford. Robert Koger, president ofMK, structured the transaction with Mark Morris, SVP, of the firm'sWashington, DC office.

Koger tells GlobeSt.com that Hibernia's acquisition--its firstin the US--is indicative of foreign investors' growing footprint inthe US hospitality industry. In fact, he goes so far as to say thatEuropean and Middle Eastern capital will be the dominant buyers inthis asset class next year.

"Assets in major US markets will find it difficult to closedeals if foreign capital is not part of the picture," he says."Domestic buyers have been having issues with debt sources and soare looking for lower pricing. Meanwhile, foreign buyers arestepping into the top spots on a lot of the deals we aremaking."