KEY WEST, FL—RLJ Lodging Trust of Bethesda, MDreports it has completed the $5-milion renovation of the guestroomsand public spaces at its Fairfield Inn & Suites KeyWest here.
In 2013, the 106-room hotel generated a RevPAR premium of 58% tothe company's overall 2013 reported portfolio RevPAR. Therenovation initiative enhanced the guestrooms, public spaces, andthe hotel's exterior facade. As a result, the company expects thatthe renovation at the hotel will further strengthen the asset'smarket presence and drive additional growth for the asset and thecompany's portfolio, RLJ Lodging states in a pressannouncement.
“We are excited to complete the Hotel's renovation in time forKey West's peak season,” commented Thomas J. Baltimore,Jr., president and CEO of RLJ Lodging. “We expect theadditional investment in this asset will position the Hotel forfuture growth and allow it to capitalize further on Key West'sstrong market fundamentals.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 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.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
