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JBG Companies Names Davidson Hotel Company to Manage the
372-room L’Enfant Plaza Hotel in Washington, D.C.

 
WASHINGTON, D.C., July 14, 2010—Davidson Hotel Company, one of the nation’s largest independent hotel management companies, today announced that it has signed a long-term contract to manage the four-star L’Enfant Plaza Hotel in the heart of downtown Washington, D.C.  The 372-room property, the 40th hotel in Davidson’s portfolio, is owned by The JBG Companies, a well-known and highly regarded Washington metropolitan area developer based in Chevy Chase, Md.

“Washington is one of the most dynamic hotel markets in the country and already is showing signs of leadership as the industry begins to move out of the economic downturn,” said John Belden, Davidson president and CEO.  “This marks our second property in the District and our seventh in the D.C.-Virginia-Maryland corridor, so we are thoroughly familiar with the dynamics of this market.  It also represents an important milestone for Davidson, the 40th addition to our hotel management portfolio.”
 
“Davidson has an impressive record of success operating complex hotels in mixed-use developments,” said Ken Finkelstein, JBG chief development officer.  “They also bring the intangible of a similar company culture that meshes very well with our own—two home-grown companies with a tradition of excellence.  We look forward to building on that foundation.”
 
“Designed by I. M. Pei, this landmark hotel has so much going for it, starting with its location,” noted Steve Margol, Davidson’s chief investment officer.  “It’s within walking distance of some of the city’s most popular attractions, including the National Mall, the Smithsonian Castle and the National Air and Space Museum, and its unique location above the intersection of four Metrorail lines provides easy access to everything else.
 
Located four miles from Reagan National Airport, the hotel features 372 guestrooms and suites, many of which offer unobstructed views of the Washington skyline, the Potomac River or The Southwest Waterfront. Hotel amenities include a rooftop pool, fitness center, business center and 21,000 square feet of meeting space that can accommodate meetings ranging in size from seven to 700 people.  Food and beverage options include the Lobby Lounge and Foggy Brew Pub bars and an award-winning restaurant, the American Grill, serving steak and seafood.
 
About The JBG Companies
Headquartered in Chevy Chase, Maryland, The JBG Companies is an active developer, owner and operator of office, residential, hotel and retail properties with more than $10 billion in assets under management and development.  Founded in 1960, JBG has established a reputation as one of the leading real estate companies in the Washington metropolitan area.  More information can be found by visiting the company’s Web site: www.JBG.com.

About Davidson Hotel Company
Headquartered in Memphis, Tenn., Davidson Hotel Company is an award-winning, full-service hotel owner and third-party management company that provides management, development/renovation, acquisition, consulting and accounting expertise for the hospitality industry.  The company currently owns and/or manages 40 upscale, independent and branded hotels with more than 11,400 rooms across the United States, including such affiliations as Westin, Marriott, Hyatt, Hilton, Sheraton, Embassy Suites, Doubletree, Renaissance, Radisson, Crowne Plaza, Hilton Garden Inn and Holiday Inn.  Additional information on Davidson may be found at the company’s Web site, www.davidsonhotels.com.

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Contact: 

Cyndi Norwood 
Davidson Hotel Company 
(901) 821-4155 
cnorwood@davidsonhotels.com
 

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Also See: Davidson Hotel Company to Manage Embassy Suites Chicago-Downtown; First Contract with Major Hotel REIT Sunstone Hotel Investors, Inc. / June 2010

Sunstone Reports a 1st Qtr 2010 Loss $26.3 million Compared with a Prior-year Profit of $876,000; RevPAR Falls 6.5% with Occupancy Rising to 67% from 65.6% / May 2010
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