Quatari Investor Buys D.C. Landmark Hotel
- Jul 14, 2015
A Quatari hotel company with holdings in the U.S., Europe and the Middle East has recently expanded its portfolio of properties with the acquisition of an award-winning hotel in Washington, D.C.
Last month, Al Rayyan Tourism Investment Company (ARTIC)—a hospitality subsidiary of Al Faisal Holding Company—purchased St. Regis Washington, D.C. from Westbrook Partners at an undisclosed price. The New York-based company had paid $100 million to buy the hotel in 2011.
The property also includes an adjacent 22,000-square-foot parcel with significant development potential.
The 182-room St. Regis is considered one of D.C.’s premier luxury hotels. It first opened its doors in October, 1926, and was known as the Carlton Hotel until 1999. Over the years, the St. Regis was visited by many famous guests, including presidents Truman and Reagan, Robert Kennedy, Audrey Hepburn, Elizabeth Taylor or Cher. The hotel also underwent some renovation projects during its long history. The last upgrade project was completed in January 2008 and resulted in a complete makeover of all the guest rooms and public areas.
The hotel is located at 923 16th St. NW, two blocks north of the White House. According to ARTIC, it will continue to fly the St. Regis flag.
For the Quatari company, the St. Regis marks the fourth landmark hotel in the United States. ARTIC’s portfolio also includes other iconic hotels in Chicago, Miami and New York.
Photo credit: www.stregiswashingtondc.com