Bethesda hotel sale completed
The Pebblebrook Hotel Trust recently announced it has sold the DoubleTree by Hilton Hotel Bethesda-Washington DC, located in Bethesda, for $50.1m. The upscale hostelry, which offers 270 rooms, is a full-service hotel.
According to Pebblebrook’s CEO, president, and chairman, Jon E. Bortz, the group is happy with the sale. He notes that the DoubleTree is the third hotel Pebblebrook has sold under a strategic plan it began earlier in 2016. The sale of the Bethesda property and another transaction, also part of the strategic plan, has generated nearly $250m in gross proceeds for Pebblebrook Hotel Trust.
Sales of the properties, Bortz said, will allow Pebblebrook to take advantage of the differences it sees in the values of its holdings in in both private and public sectors. He also sees a solid future for the hotel, citing the fact that both international and domestic investors have shown great interest in properties like the DoubleTree.
The sale of the Bethesda property will give Pebblebrook funds it plans to use for the purpose of general business, including helping to pay down some of the company’s outstanding debt. The sale of the hotel was finalized on November 2, 2016.
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According to Pebblebrook’s CEO, president, and chairman, Jon E. Bortz, the group is happy with the sale. He notes that the DoubleTree is the third hotel Pebblebrook has sold under a strategic plan it began earlier in 2016. The sale of the Bethesda property and another transaction, also part of the strategic plan, has generated nearly $250m in gross proceeds for Pebblebrook Hotel Trust.
Sales of the properties, Bortz said, will allow Pebblebrook to take advantage of the differences it sees in the values of its holdings in in both private and public sectors. He also sees a solid future for the hotel, citing the fact that both international and domestic investors have shown great interest in properties like the DoubleTree.
The sale of the Bethesda property will give Pebblebrook funds it plans to use for the purpose of general business, including helping to pay down some of the company’s outstanding debt. The sale of the hotel was finalized on November 2, 2016.
Companies such as these can benefit by working with newsletter printing companies, which can create letters that give them adequate space to explain complex matters in extensive detail.