Frontier Development & Hospitality Group and its joint venture partner Basis Investment Group have acquired the Cambria Washington D.C., Downtown/Convention Center, a 182-key hotel located in Washington, D.C. The hotel has joined Hyatt's portfolio as Hyatt Washington, D.C./Convention Center.
The hotel has begun a comprehensive property-wide renovation, and upon the completion of the renovation, slated for summer 2025, it will convert to the Hyatt House brand.
"We are thrilled to add this Hyatt hotel to our portfolio and look forward to rebranding it Hyatt House Washington, D.C., Downtown/Convention Center in 2025," Evens Charles, founder and managing principal, Frontier Development & Hospitality Group, said in a statement. "This acquisition aligns perfectly with our core value-add strategy of investing in high-quality assets in prime locations with strong growth potential. We are confident that the conversion to the Hyatt House brand will unlock significant value for our investors and guests."
Based in the historic Shaw District of the nation's capital, near the Walter E. Washington Convention Center, CityCenter D.C., the National Mall, and government agencies and corporate headquarters, the hotel has a fitness center, bar and lounge, meeting rooms and a rooftop terrace with city views.
"This transaction represents a unique opportunity to acquire the formerly Cambria Convention Center/D.C. hotel, a well-located asset in our nation's capital," said Joseph Yi, CIO and principal, of Frontier Development & Hospitality Group. "The Washington, D.C. hotel market has shown a robust recovery to pre-Covid levels, and we are bullish on the long-term fundamentals of this dynamic market."
"Hyatt remains committed to expanding the Hyatt House brand footprint in key markets where guests and World of Hyatt members want to be," said Jim Tierney, SVP select service development, Hyatt. "Washington, D.C. is an important market to Hyatt, with leisure and business visitors coming through to experience both short- and long-term stays."