BETHESDA, Maryland—District Hospitality Partners announced the acquisition of the Westin Annapolis. Located in historic downtown Annapolis, the 225-room property provides guests access to attractions, including the United States Naval Academy, Navy-Marine Corps Memorial Stadium, Maryland State House, and Chesapeake Bay. The property is walkable to over 90 independent stores and restaurants, only 30 miles from two major Mid-Atlantic metro areas (Washington D.C. and Baltimore), and near Ronald Regan Washington National and BWI airport.
“The Westin Annapolis is an iconic asset in the Annapolis hotel market and a perfect fit for our portfolio as we continue to accelerate our acquisition pace,” said Fred W. Malek, CEO, District Hospitality Partners. “The property is located in a growing market with high barriers to entry and benefits from the balanced strength of its group and transient customers. Properties with high cash flow in strong markets are the type of assets we are looking for to increase our hospitality presence.”
The Westin Annapolis underwent a renovation in 2020 for all its guestrooms, including case and soft goods and the bathrooms. District Hospitality is planning a renovation to the bar, restaurant, and lobby.
With 13 event spaces encompassing over 19,000 square feet of meeting space, including two kitchens, the hotel can host corporate and life cycle events. Additional amenities include WiFi, a fitness center, and an indoor pool.
HEI Hotels & Resorts will continue to manage the asset. Eastdil Secured served as the debt placement advisor, and Wells Fargo provided the financing.
