District Hospitality Partners, a privately held hospitality investment group that owns properties nationwide, has acquired The Westin Annapolis in Annapolis, MD.
Located in historic downtown Annapolis, the 225-room property is near attractions such as the United States Naval Academy, Navy-Marine Corps Memorial Stadium, Maryland State House, and Chesapeake Bay. The hotel is also 30 miles from two major Mid-Atlantic metro areas (Washington, DC and Baltimore), and within 35 miles of Ronald Regan Washington National Airport and Baltimore/Washington International Thurgood Marshall 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 comprehensive renovation in 2020 for all its guestrooms, including case and soft goods, and modernizing the guest bathrooms. District Hospitality is planning a significant renovation to the bar, restaurant and lobby.
With 13 event spaces encompassing over 19,000 sq. ft. of meeting space, including two kitchens, the hotel offers the most meeting space of any venue in Annapolis, according to the company. Additional amenities include free 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.
