{"id":1004090287,"date":"2014-01-24T07:28:15","date_gmt":"2014-01-24T15:28:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004090287"},"modified":"2022-12-08T17:54:31","modified_gmt":"2022-12-09T01:54:31","slug":"dcs-lenfant-plaza-hotel-to-undergo-renovation-after-acquisition-by-hotel-group","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dcs-lenfant-plaza-hotel-to-undergo-renovation-after-acquisition-by-hotel-group\/","title":{"rendered":"DC\u2019s L\u2019Enfant Plaza Hotel to Undergo Renovation after Acquisition by Hotel Group"},"content":{"rendered":"

By Gail Kalinoski, Contributing Editor<\/i><\/p>\n

\"lenfantplazahotel_SMALL\"<\/a><\/p>\n

The new owners of the L\u2019Enfant Plaza Hotel, an iconic luxury hotel in Washington, D.C., said this week the 372-key property is closed and will be undergoing a major renovation, expected to be completed sometime next year.<\/p>\n

\u201cThis is one of the premier locations in the Nation\u2019s Capital and serves both leisure and business guests,\u201d Will Gibbs, senior vice president of L\u2019Enfant DC Hotel L.L.C., said in a news release. \u201cOur plans to restore the hotel to 4 Diamond status are being developed now with intentions to re-open the hotel in 2015.\u201d<\/p>\n

L\u2019Enfant DC Hotel L.L.C. is an affiliate of the Stanford Hotels Group, which operates 13 hotels and has four under construction or in development, including Hyatt Place, a 24-story, 130-room luxury hotel in Times Square in Manhattan. Last week, the group announced it was building a 15-story, 250-room upscale hotel in the South of Market neighborhood of San Francisco<\/a>. That project is the first new full-service hotel to be built in the city since 2008.<\/p>\n

The Washington, D.C., hotel is located at 480 L\u2019Enfant Plaza in the Southwest section one block from many of the city\u2019s tourist attractions, including The National Mall and The Smithsonian. It was closed Dec. 3, when the Stanford affiliate took control of the property from The JBG Cos. The company did not release the price of the purchase, but the Washington Business Journal reported it was $48.7 million \u2013 the price Stanford was supposed to pay a previous owner in 1997. The landmark hotel has been the subject of a lawsuit over a deal dating back to the late 1990s, when Sarakreek Holdings NV sought bids for the hotel and Stanford was the winning bidder with $48.7 million, according to the Washington Business Journal story. Before the deal closed, Sarakreek reportedly took a higher bid from an affiliate of The JBS Cos. On July 31, a D.C. Superior Court judge issued a ruling requiring JBG to sell the hotel to Stanford.<\/p>\n

JBG Cos. still owns several nearby properties, including mixed-use buildings at 470\/490 L\u2019Enfant Plaza and an office building at 500 L\u2019Enfant Plaza.<\/p>\n

\u201cThe current development of an additional 58,000 square feet of retail space adjacent to the hotel and the future development plans of 1.8 million square feet of mixed-use commercial property on the Potomac River\u2019s Southwest waterfront one block away make the potential for the hotel to be at the height of its 40-plus-year history,\u201d Gibbs added in the release.<\/p>\n

Hospitality industry expert Tom Baker, a managing director at international real estate advisement firm Savills, L.L.C., in Washington, D.C., also noted the close proximity to the Southwest waterfront project planned by PN Hoffman\/Madison Marquette and other city attractions.<\/p>\n

\u201cIt has an excellent location, unbeatable Metro access and is very well known in the D.C. market,\u201d he told Commercial Property Executive<\/i>. \u201cWhen renovations are complete, the L\u2019Enfant Plaza Hotel will recapture its place among the premier hotels in Washington, D.C.\u201d<\/p>\n

Baker said Stanford took the smart step in shutting down the facility during the extended renovations.<\/p>\n

\u201cAt 40 plus years old, it is in need of a major overhaul,\u201d Baker concluded. \u201cThe new owners recognized the disruptive nature of such a renovation and wisely, in my opinion, chose to close the hotel during construction.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The new owners of the L\u2019Enfant Plaza Hotel, an iconic luxury hotel in Washington, D.C., said this week the 372-key property is closed and will be undergoing a major renovation, expected to be completed sometime next year.<\/p>\n","protected":false},"author":1068,"featured_media":1004090288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21751,21783,11,21742,1615],"tags":[],"class_list":["post-1004090287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-hotel","category-investment","category-midatlantic","category-latest","category-washington-dc"],"acf":[],"yoast_head":"\nDC\u2019s L\u2019Enfant Plaza Hotel to Undergo Renovation after Acquisition by Hotel Group - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dcs-lenfant-plaza-hotel-to-undergo-renovation-after-acquisition-by-hotel-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DC\u2019s L\u2019Enfant Plaza Hotel to Undergo Renovation after Acquisition by Hotel Group\" \/>\n<meta property=\"og:description\" content=\"The new owners of the L\u2019Enfant Plaza Hotel, an iconic luxury hotel in Washington, D.C., said this week the 372-key property is closed and will be undergoing a major renovation, expected to be completed sometime next year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dcs-lenfant-plaza-hotel-to-undergo-renovation-after-acquisition-by-hotel-group\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-01-24T15:28:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:54:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/01\/lenfantplazahotel_SMALL.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"448\" \/>\n\t<meta property=\"og:image:height\" content=\"299\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dcs-lenfant-plaza-hotel-to-undergo-renovation-after-acquisition-by-hotel-group\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dcs-lenfant-plaza-hotel-to-undergo-renovation-after-acquisition-by-hotel-group\/\",\"name\":\"DC\u2019s L\u2019Enfant Plaza Hotel to Undergo Renovation after Acquisition by Hotel Group - 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