The 14-story hotel sits at 2300 Dulles Corner Blvd. near the Washington Dulles International Airport. The building features 17,400 sf of meeting space, as well as a restaurant and bar, and just underwent a $5-million renovation and there had been an upgrade in 1997, as well.

"With the infrastructure demand growth and no new hotel supply forecast in the near future, we believe the renovation of such a strong-branded and well-located asset as the Hyatt Dulles will position us to achieve significant EBITDA growth going forward," says Ashford Hospitality CEO Monty J. Bennett. He says the potential opportunity to expand the hotel with an additional 210 guestrooms and up to 16,000 sf of meeting space also offers "compelling upside that we will be evaluating in the near future."