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Acquisitions & Hotel Openings

Excel Group Acquires 200-Room Hyatt Place Washington DC / US Capitol

ARLINGTON, VA. August 16, 2017 - Washington DC-based real estate investment firm Excel Group has announced its recent acquisition of the Hyatt Place Washington DC / US Capitol, a 14-story, 200-room hotel, which opened in June 2014.

The newly-constructed property sits squarely in the center of DC's burgeoning NoMa neighborhood, a 35-block district of Northeast Washington. Well-funded by private developers, NoMa is a rapidly transforming area that will see an additional 20 million square feet of new office, residential, hospitality and retail development over the coming years. Referred to as the city's "most connected" area, NoMa is highly accessible, with Amtrak, Virginia Railway Express (VRE), MARC, two Red Line Metro stops, seven Capital Bikeshare locations, and I-395 access.

"It's an exciting time to be in NoMa, and we're thrilled to announce this acquisition," remarked managing partner Shoham Amin. "As an early stakeholder in this up-and-coming area of Washington, we're very confident in the local market's outlook, and look forward to the continued commercial and residential growth coming to the neighborhood."

Hyatt Place will be Excel's closest acquisition in proximity to its headquarters —a significant move as the firm continues to expand its footprint. With a current portfolio of 17 properties, Excel Group is among the fastest-growing real estate companies in the nation, most recently ranked third by Inc Magazine in 2016.

For more information, please contact Shoham Amin, Managing Partner of Excel Group at shoham.amin@excelgp.com.

About Excel

Excel Group is a Washington, D.C.-based private equity firm that owns, develops, and asset manages hotels in high-growth markets across the Eastern U.S. Excel Group is focused on disciplined, cycle-appropriate hotel real estate acquisitions and asset management.

About Hyatt Place Washington DC/US Capitol

With over 200 rooms and an ideal location in DC's vibrant NoMa neighborhood, the 14-story Hyatt Place Washington DC/US Capitol is a contemporary hotel offering style and comfort to travelers visiting the nation's capital. Rejuvenate with KenetMD bath essentials and sleep soundly on a Hyatt Grand Bed. Free hotel-wide Wi-Fi, free hot breakfast, 24-hour gym and indoor pool make your stay more comfortable. Hyatt Place also features 1600 square feet of meeting space for small meetings or large events.

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Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.