Four Seasons DC Reportedly on Sales Block
WASHINGTON, DC, January 12, 2006. Just a few months after the Four Seasons Hotel in Georgetown snagged its coveted fifth star, the hotel known for hosting movie stars and political hotshots, is reportedly on the sales block for about $800,000 a room, or nearly $170 million. It's the biggest price tag ever for a D.C. hotel, according to the Washington Business Journal.
As many as five potential buyers have quietly placed their bids. New York-based Eastdil Realty, which is marketing the property, is said to be in the second round of considering offers for the hotel owned by New York financier William Louis-Dreyfus' Louis Dreyfus Property Group. This group has several Four Seasons properties in its portfolio.
If the reported sales price holds, it would be unprecedented for the Washington market. In the top two sales thus far, the former Monarch Hotel, now the Fairmont Washington, D.C. Hotel at 24th and M streets NW, sold in December 2002 for $350,000 a room, and last month Highland Hospitality bought the Churchill Hotel in Dupont Circle for $340,000 a room.
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