US-based Frontier Development & Hospitality Group and its joint venture partner Basis Investment Group (BIG) announced the acquisition of a new 182-key hotel, named ‘Cambria Washington DC, Downtown/Convention Center’, in Washington, DC.
The companies have not disclosed the financial terms and other details of this transaction.
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As a result of this deal, the hotel has now become a part of Hyatt’s portfolio and also joined the World of Hyatt loyalty programme, offering members the chance to earn points.
The hotel is undergoing a comprehensive renovation, as part of Frontier’s strategy to grow its premium select-service hotel portfolio.
This renovation work, after which the hotel will operate under the Hyatt House brand, is expected to be completed by mid-2025.
Hyatt Washington DC / Convention Center at 899 O Street NW will offer various amenities such as a bar and lounge, a rooftop terrace, meeting rooms, and a fitness centre.
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By GlobalDataLocated in the Historic Shaw District, the hotel is close to the Walter E Washington Convention Center, the National Mall, CityCenter DC, and various government and corporate offices.
Hyatt Select Service Development senior vice president Jim Tierney said: “Hyatt remains committed to expanding the Hyatt House brand footprint in key markets where guests and World of Hyatt members want to be.
“Washington DC is an important market to Hyatt, with leisure and business visitors coming through to experience both short and long-term stays.”
The partnership’s acquisition of the Washington DC hotel reflects their efforts to invest in high-quality assets in prime locations.
Frontier Development & Hospitality Group founder and managing principal Evens Charles said: “We are thrilled to add this Hyatt hotel to our portfolio and look forward to rebranding it Hyatt House Washington DC, Downtown/Convention Center in 2025.
“This acquisition aligns perfectly with our core value-add strategy of investing in high-quality assets in prime locations with strong growth potential.”
