Hotel Online  Special Report

 
Hotel Monticello of Georgetown, A European-style
Luxury, Boutique Hotel, Sold by Molinaro Koger

 
McLean, VA – June 23, 2005 – The fact that investors are placing premium value on Washington DC hotels and real estate is proven by the recent sale of Georgetown’s Hotel Monticello. In a transaction structured by Molinaro Koger, an international hotel real estate brokerage headquartered in metro DC, the Hotel Monticello was purchased by JBS Ventures, LLC from Marbury Place LLC. A European-style boutique hotel that caters to international dignitaries, embassy staff and World Bank executives, the Hotel Monticello will close for renovation following the sale and open late summer 2005. 

“This luxury boutique hotel situated in an irreplaceable location in historic affluent Georgetown, drew competitive bids from investors around the world,” said Mark Morris, Senior Vice President of Molinaro Koger, who structured the transaction. 

A 20-year veteran of the DC hotel real estate market, Mr. Morris says the nation’s capital is the country’s top hotel market, drawing intense investor interest. One of the reasons behind investor interest in DC is solid operational dynamics. The Washington DC market has easily absorbed a 1 percent increase in hotel room supply during the past 12 months with demand considerably outpacing supply. Overall demand for the same period grew by 2.4 percent resulting in a 3.5 percent growth in room revenue.

“Hotel real estate is one of the hottest investment commodities in 2005. The premium location and significant upside of this luxury boutique combined with investor interest in hotels to make this one of the most contested assets I have brought to market in a decade.

“Naturally we were pleased to bring our client a strong return on their investment and culminate the transaction in a manner beneficial to all parties,” said Mr. Morris. 

The all-brick façade hotel has seven floors and 47 rooms, the majority of which are suites. All the hotel’s rooms feature oversized floor plans, marble baths, armoires, French doors, marble-toped wet bars with micro fridges and Hermes toiletries. Located just off M Street, on Thomas Jefferson Blvd., the hotel benefits from its proximity to the nation’s top tourist attractions, government agencies, and more than 70 million square feet of premium office space. 

For further information about this transaction and current listings, please contact Molinaro Koger at 703.760.9600 or via www.mkhotels.com.

About Molinaro Koger
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Molinaro Koger is an international hotel real estate advisory firm. The company structures hotel transactions of boutique through luxury market segment assets throughout the Americas and Europe. MK is headquartered in metro-Washington, DC, and has offices in London, Atlanta, Chicago, Cincinnati, Dallas, Los Angeles and Phoenix. Over the past decade the firm has captured the industry’s leading hotel transaction awards including Highest Volume, Largest Transaction and Salesman of the Year.

Joseph Molinaro founded the firm in 1959, and since then Molinaro Koger has successfully marketed hotel real estate, sponsored limited partnerships, and arranged financing for purchasers. Given the cyclical nature of real estate, the firm has weathered an array of highs and lows during the course of its 45-year history. Through this time, the company has grown and assisted clients in achieving their investment goals.

“With each lodging real estate cycle we gather strength, expertise and contacts enabling us to better serve our clients best interests, regardless of economic highs or lows,” says President Rob Koger. “The results we achieve are directly attributable to the commitment and expertise of our professional staff.”

Molinaro Koger can be accessed online at www.mkhotels.com.

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Contact:

Molinaro Koger
1676 International Drive
Suite 575
McLean, VA 22102
703.760.9600
www.molinarokoger.com

Sharon Lemon
sharon@zestcommunications.com
651.324.8469


 
Also See: Molinaro Koger Structures Sale of Sierra Suites® Portfolio / May 2005
Molinaro Koger Structures Sale of Hilton Deerfield Beach Florida / April 2005
Molinaro Koger Structures Sale of Two Residence Inns Portland, Oregon / February 2005
Molinaro Koger Structures Sale of Lenox Suites Hotel Chicago / February 2005
Molinaro Koger Structures Sale of Hilton College Station & Conference Center / January 2005
The Outstanding Year that Was: MK Records $1.3 Billion in Hotel Real Estate Transactions in 2004 / January 2005
Molinaro Koger Structures Sale of Marriott Suites Hotel Bethesda / December 2004
Molinaro Koger Arranges Sale of the Renaissance Jamaica Grande Beach Resort / December 2004
Hospitality Financier Edward Blum Joins Molinaro Koger / December 2004
FelCor Sells North Dallas Crowne Plaza Hotel, Advised by Molinaro Koger / October 2004
Bill Murney Joins Molinaro Koger, Opens Firm’s Phoenix Office as Managing Director / October 2004
Molinaro Koger Advises FelCor on the Sale of the Harvey Hotel DFW / October 2004
Molinaro Koger Structures Sale of Hyatt Hotel Orange County / October 2004
Molinaro Koger Structures Sale of Renaissance Hotel Ft. Lauderdale / September 2004
Molinaro Koger Structures Sale of Radission Hotel Mt. Laurel on behalf of Boykin Lodging Company / September 2004
Molinaro Koger Advises William Street Hotel Associates LLC on Sale of Doubletree Hotel Chicago O’Hare Airport / August 2004
Molinaro Koger Advises on the Sale of the Beaver Creek Lodge / August 2004
Molinaro Koger Arranges Sale of Crystal City Marriott Hotel / July 2004
Molinaro Koger Facilitates Sale of Sheraton Bucks County Hotel to Ashford Hospitality Trust / July 2004
Molinaro Koger Structures Sale of Sheraton Hotel Washington, DC / June 2004
Molinaro Koger Advises in the Sale of Miami Beach Ritz Plaza Hotel — Kimpton to Rebrand and Manage / June 2004
Molinaro Koger Structures Sale of Hilton Hotel Pasadena, California / May 2004
Molinaro Koger Closes Holiday Inn East Columbus on Behalf of B.F. Saul Company / April 2004
Molinaro Koger Structures Sale of Radisson Hotel Charleston / April 2004
Molinaro Koger Closes 82 Transactions in 2003 / January 2004
Thompson Calhoun Fair and Molinaro Koger Brokers Sale of 15 - Hotel Portfolio / December 2003
Molinaro Koger Closes Sale of Renaissance Hotel St. Thomas to Palace Resorts of Cancun, Mexico / November 2003
Molinaro Koger Closes Four Full-Service Hotels / November 2003
Molinaro Koger Closes 46 Transactions Through Third Quarter 2003 / October 2003
Molinaro Koger Selected to Market 7-Property Holiday Inn Portfolio on Behalf of FelCor / May 2003
Simon Allison, Former Finance Director of Hospitality Europe BV, Named Vice President, Molinaro Koger / April 2003
Molinaro Koger Opens Atlanta Office / Oct 2002
Hotel Acquisitions Continue In Tight Market Molinaro Koger Announces 39 To Date Closings / Oct 2002
Molinaro Koger Opens Atlanta Office / Oct 2002


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