HEI Expands Assumes Management of the Beacon Hotel in Washington, DC
HEI Hotels & Resorts, one of the nation's leading operators of institutionally owned hotels, added Beacon Hotel & Corporate Headquarters to its growing portfolio of luxury, upper-upscale and upscale independent and branded hotels and resorts throughout the United States; a portfolio which now numbers more than 100 total properties.
Located in the heart of Washington, D.C., the hotel is steps from the White House and within walking distance to 38 million square feet of commercial office real estate, Embassy Row and the iconic National Mall.
The Beacon Hotel features 199 oversized spacious and well-designed guestrooms, averaging 355 square feet, and boasts 58 rooms with kitchenettes. The hotel also includes the Beacon Bar & Grill and Beacon Sky Bar, which provides exceptional street visibility and is in a prime location to benefit from the adjoining retail corridor. The property is also host to a fitness center, business center and over 10,000 square feet of event space are also contained within the property.
The Beacon Hotel & Corporate Headquarters will soon undergo a multimillion-dollar renovation, which will a include top-to-bottom update of all guestrooms and bathrooms, reimagining of the food & beverage outlets, refurbishment of meeting spaces and enhancements to the fitness center.
"Washington, D.C. is an extraordinary market that is home to a diverse range of high-profile points of interest," said Anthony Rutledge, CEO at HEI. "We will capitalize on these demand drivers and position the Beacon as a preferred hotel destination. We are also excited to establish a relationship with the owner, Three Wall Capital, LLC and look forward to delivering exceptional results."
"We feel that HEI Hotels & Resorts is the ideal management partner for the Beacon Hotel," said Alan Kanders, Managing Member and Founder, Three Wall Capital. "Their extensive experience in this property segment and deep understanding of the D.C. market is a tremendous advantage and we look forward to a successful collaboration."
HEI manages a total of six properties in DMV region, which is the metropolitan area centered around Washington, D.C. and includes all of Washington, D.C. and parts of Maryland, Virginia and West Virginia. They include Le Méridien Madison, Washington, DC and the Hyatt Regency Dulles.
About Three Wall CapitalFounded in 2008, Three Wall Capital is a premier hospitality investment and asset management firm having completed over $3.0 billion in transactions as a principal investor. Three Wall Capital are hands-on investors, deeply committed to understanding the intricacies of each property and unlocking its full value potential
The company's investments include acquisition, new construction, redevelopment, and recapitalization opportunities across all hotel asset classes from 5-Star Luxury to extended-stay. The team underwrites all aspects of new acquisitions, with a keen focus on market positioning, capital enhancement, and operational performance through both revenue growth and expense optimization. This enables the company to deliver outsized returns to its investors.
To learn more, visit www.threewallcapital.com.
About HEI Hotels & Resorts
About HEI Hotels & Resorts HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment and management company that owns or operates more than 100 luxury, upper-upscale and upscale independent and branded hotels and resorts throughout the United States. HEI's branding partners include Marriott, Hilton, Hyatt, IHG, Choice and Wyndham. The company is renowned for its commitment to its associates under the culture of HEI Loves, its revenue management, profit contribution and empirically based real estate value creation, driven by a full complement of proprietary software tools to set and exceed targets on a fully integrated basis. HEI works hand-in-hand with institutional capital partners on existing assets under management as well as sponsored acquisition opportunities. The company has ample equity capital and strategically co-invests with its partners on many transactions. To learn more about HEI, please visit www.heihotels.com.
