Grand Hyatt Washington hotel sells for $400 million
- July 17, 2012
Host Hotels & Resorts Inc., based out of Bethesda, Md., has purchased the Grand Hyatt Washington in Washington, D.C., for $400 million. Jones Lang LaSalle Hotels, which represented the seller, 1000 H Street LLC and 1000 H Street Trust, announced the transaction Tuesday.
The 888-room property at 1000 H Street NW in D.C.’s East End was completed in 1987. It offers about 43,000 square feet of flexible meeting space that was renovated in 2007 and 2008. The hotel has five food and beverage outlets, a two-floor fitness club, an indoor swimming pool and spa.
It’s within walking distance to several cultural and entertainment venues, including the Verizon Center, the National Mall, the Smithsonian Museums, the U.S. Capitol Buildin, and the White House.
Leading the Jones Lang LaSalle Hotels team on this transaction was Managing Director and Americas CEO Arthur Adler, Managing Director Bob Webster and Vice President John Nugent.