Concord Hospitality to Construct 182-Room Cambria Suites in Nation’s Capital
- Mar 06, 2013
Choice Hotels International Inc. has taken its Cambria Suites in Washington, D.C., project skyward, marking a big step in the $40 million development of the Silver Spring, Md.-based company’s first Cambria Suites property in its own backyard. Choice and partner Concord Hospitality hosted a “sky breaking” ceremony to celebrate the beginning of construction of the 182-room hotel, which will sit atop the new retail segment of the 1 million-square-foot CityMarket at O mixed-use destination.
Roadside Development, developer of the $300 million CityMarket, is also part of Choice and Concord’s hotel project. Not only will the property be the first Cambria Suites in the nation’s capital, it will be the first LEED-certified Cambria Suites.
With any real estate endeavor, location is key and Cambria Suites will sit in a prime location within close proximity of the 2.3 million-square-foot Washington Convention Center.
“The Washington, D.C. convention center generates about $400 million of economic impact for the District each year, yet there is still a shortage of hotel rooms for conference and tradeshow attendees as well as those people who work the show itself,” Michael Murphy, senior vice president with Cambria Suites, said in a prepared statement.
And then there’s the fact that the city’s overall hotel market is in relatively good shape. “In general, the Washington, D.C., hotel market had a flat year in 2012 and lagged the overall performance of the U.S. hotel market; however, Washington hotels were quicker to rebound from the recession than the overall U.S. hotel market, so in some respects the rest of the market used 2012 to catch up to the Washington market,” Jeff Higley, vice president, digital media and communications with STR, told Commercial Property Executive.
Cambria Suites Washington is on track to make its debut in the second quarter of 2012.