$93M Ritz-Carlton Deal Closes

ARLINGTON, VA-Having announced the deal last month, MeriStar Hospitality Corp. has now wrapped up its acquisition of the Ritz-Carlton, Pentagon City. In a transaction valued at $93 million, MeriStar took the four-star hotel off the hands of WSC Pentagon City Hotel LLC, which acquired the 366-room property in 1998 for $72.5 million.

Located off I-395 just 10 minutes from the heart of Washington, DC and an even shorter distance from Reagan National Airport, Ritz-Carlton, Pentagon City has been a top-of-the-line luxury hotel destination since its development in 1990. In addition to its guest rooms and direct interior access to the adjoining upscale Fashion Centre Mall office and retail locale, the 18-story hotel also offers 1,000 sf of meeting space, a business center, fitness facility and a restaurant and lounge.