BETHESDA, Maryland—District Hospitality Companions introduced the acquisition of the Hilton Washington DC/Rockville Resort and Government Assembly Middle. This full-service property provides to the agency’s rising nationwide portfolio of upscale accommodations.
The 315-room property backs as much as the Twinbrook Metro station, providing entry to downtown Washington D.C., Capital One Enviornment, Union Station D.C., and the D.C. airports. The resort additionally sits on the confluence of demand mills for its rooms and assembly house that embody federal and state authorities establishments, together with the Nationwide Institutes of Well being, U.S. Division of Vitality-Maryland, Nationwide Institute of Requirements and Expertise, the U.S. Meals and Drug Administration; pharmaceutical and well being firms, together with AstraZeneca, Kaiser Permanente, Emergent BioSolutions, and Human Genome Sciences, Inc.; and defense-related firms, together with Lockheed Martin, Westat, Inc., and Hughes Community Techniques, LLC. Adjoining to the resort are 450,000 sq. ft of retail house and almost 1,000 residential items at present being constructed or in planning phases.
“The Hilton Washington DC/Rockville is a key addition to our portfolio as we proceed to speed up our acquisition tempo,” mentioned Fred Malek, CEO, District Hospitality Companions. “The property is situated in a rising market with excessive obstacles to entry and advantages from the balanced energy of its group and transient clients. With the property’s robust and balanced money flows, the first Hilton group choice available in the market, and the low foundation and excessive capitalization fee, this acquisition represents our continued dedication to rising in top-tier markets with robust financial fundamentals and high-demand drivers. We plan to replace the property by renovating the visitor rooms, loos, and corridors. These enhancements are along with the earlier proprietor’s just lately accomplished renovation of the assembly house and customary areas, together with the foyer and restaurant.”
The property accommodates enterprise and life cycle occasions with almost 40,000 sq. ft of occasion house encompassing 26 rooms, together with a ten,000-square-foot ballroom and on-site catering. Further facilities embody a health heart, enterprise heart, restaurant, bar, and café.
