LaSalle Hotel Properties is a REIT with interests in 8,500 guest rooms in 29 upscale and luxury full-service hotels, including the University Tower Hotel in Seattle's University District. Aspen Hotel Group owns about a dozen hotels in Oregon and Washington, including the Roosevelt and Paramount hotels in Seattle and the Westin, Benson and Lucia hotels in Portland.
The Alexis Hotel is located at First Avenue and Madison Street in the CBD. The hotels decorated in European decor with rich fabrics, classic furniture, original artwork and antiques. Features include large guest rooms, an Aveda Salon and Spa, a fitness center, a business center and 2,900 sf of meeting space. Dining options include the Library Bistro and The Bookstore - Bar & Cafe.
The Alexis will continue to be managed by Kimpton Hotel & Restaurant Group, LLC, which manages six other hotels for LaSalle. LaSalle Hotels CFO Hans Weger did not return phone calls seeking comment on the transaction. Sondland also was unavailable for comment.
"The hotel benefits from a number of leisure and commercial demand generators in downtown Seattle," says LaSalle Hotel's chief executive Jon Bortz in a prepared statement. "We believe the hotel is in a perfect location to benefit from Seattle's strong economic growth from high-tech, biotech and manufacturing and retail industries as well as its growing presence as a gateway market between the U.S. and Asia."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.