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K Street NW Hyatt Place Hotel Sells for $68M, Sets New Record

This past May, Atlanta-based Songy Highroads, LLC opened a Hyatt Place hotel in downtown Washington, D.C. with no intention of selling it. Soon after opening, one buyer came to them with an offer so generous that they had to reconsider, and soon enough the 164-room hotel changed hands to RLJ Lodging Trust for $68 million. With a per-room price of $415,000, this set a new record for select-service hotels in the D.C. market. What sets Hyatt Place apart from other hotels in the District is its close location to three Metro stations and expansive rooftop deck. The 11-story hotel also offers luxurious amenities like a 24-hour fitness center and a 24-hour Gallery restaurant. The sold Hyatt Place on 1522 K Street NW is only one of three Hyatt Place hotels in Washington, D.C.
· Mapping the Most Essential Hotels in Washington, D.C., June '15 [Curbed DC]
· Washington, D.C.'s 18 Most Underrated Hotels, Mapped [Curbed DC]
· Checking In: An Updated Map Of D.C.'s Anticipated Hotels [Curbed DC]