Airport Hotel Gets New Owner and New Manager

LITHICUM, MD-The Hilton Garden Inn BWI, a 158-room hotel property with 2,000 sf of meeting space near the Baltimore-Washington International Airport, has found a new owner and a new management team. Still-young hotel REIT Highland Hospitality Corp. acquired the not yet three-year-old property for $21.9 million from LTD Management Co., and tapped Crestline Hotels & Resorts Inc. to handle management responsibilities.

“The acquisition of this hotel fits our strategy to invest in upscale full-service and premium limited-service and extended stay hotels in major urban, airport and suburban markets,” Highland president and CEO James L. Francis explains. “With the expansion and subsequent growth potential of the Baltimore/Washington International Airport, this hotel should be well-positioned to generate increasing returns and long-term value appreciation.”