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Dulles Hyatt Trades for $78M

HERNDON, VA-Ashford Hospitality Trust is selling the 316 all-suite, recently renovated asset to Thayer Lodging Group.

By Erika Morphy | Updated on June 11, 2008

HERNDON, VA-Thayer Lodging Group just closed on its first Northern Virginia asset– the 316-all suite Hyatt Hotel Washington Dulles. Dallas-based Ashford Hospitality Trust was the seller. The price was undisclosed, but according to a source, the Annapolis, MD-based firm acquired it for $78 million. Rob Koger, president of Molinaro Koger, brokered the transaction with Mark Morris, senior vice president and Dustin Resnick, vice president. A four-diamond hotel, the property will keep the Hyatt flag, and be managed by the Global Hyatt Corp.

Demand for the four-diamond hotel was high, as it is a premier product minutes away from Dulles airport, Resnick tells GlobeSt.com. Ashford has been investing in renovations to the hotel over the last four years, he adds, with the most recent project a $2 million rehab of the lobby. Other amenities include an indoor pool, business center and 10 meeting rooms totaling 7,250 sf.

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