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LaSalle Buys, Plans $30-Mil Renovation of 4 Hotels

WASHINGTON, DC-LaSalle Hotels has bought the properties with plans to create "unique, independent boutique hotels," with a total of 502 rooms, which will be managed by Kimpton Hotels & Restaurant Group.

By Wendy Watkins | Updated on March 11, 2001

WASHINGTON, DC-LaSalle Hotel Properties purchased four downtown hotels on Thursday, and company officials say they plan to fully renovate each of them to create “unique, independent boutique hotels.” LaSalle bought the hotels from a partnership of Contrarian Capital Advisors and Angelo Gordon & Co. LaSalle officials declined to disclose the purchase price.

The renovation project has an estimated $30 million price tag and will be completed in conjunction with Kimpton Hotel & Restaurant Group LLC, which LaSalle also retained to manage and operate the hotels. The hotels, which have a total of 502 rooms, are: Canterbury Hotel, with 99 rooms, located at 1733 N Street NW; Clarion Hampshire House Hotel, 82 rooms at 1310 New Hampshire Avenue NW; Quality Hotel and Suites Downtown, 137 rooms, at 1315 16th Street NW; and Howard Johnson Plaza Hotel and Suites, 184 rooms, 1430 Rhode Island Avenue NW.

LaSalle Hotel chief financial officer Hans Weger says two of the hotels will be closed in the third quarter of this year for renovation and will reopen by the end of the year. The other two hotels will then be closed for renovations, opening by the end of the first quarter in 2002. The hotels, once refurbished, will be renamed and managed as independent, non-branded hotels.

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