June 29, 2015
HODGES WARD ELLIOTT CLOSES ON SALE OF ST. REGIS WASHINGTON, D.C.
Al Rayyan Tourism Investment Company (“ARTIC”), the international hospitality subsidiary of Al Faisal Holding Company, has purchased the award-winning St. Regis Washington, D.C. Mark Elliott and Rudy Reudelhuber of Hodges Ward Elliott advised the seller. Hodges Ward Elliott also advised ARTIC on the procurement of acquisition financing which was provided by Goldman Sachs.
The St. Regis Washington, D.C. is the premier luxury hotel in the United State’s capital. Located two blocks north of the White House at the intersection of 16th and K Streets, the 182-room property has arguably the best hotel address in the city. The hotel couples classic elegance with modern amenities, offering opulent rooms and suites, complete with flawless furnishings, state-of-the-art technology and gracious residential touches including an elevated level of bespoke St. Regis Butler Service.
The purchase of the 182-room luxury hotel also includes an adjacent parcel allowing for the development of approximately 22,000 additional square feet, zoned for hotel, office, most retail, parking and/or residential uses.
Established in 2003 as a wholly owned subsidiary of Al Faisal Holding Company, ARTIC is engaged in real estate development, acquisition and leasing with a primary focus on the hospitality sector and hospitality-related services both in Qatar and overseas. ARTIC’s portfolio comprises 32 hotel/serviced apartment properties in the Middle East and Africa, Europe and North America, where ARTIC owns the Radisson Blu Chicago, The St. Regis Bal Harbour and The Manhattan at Times Square. In addition to its hotel portfolio, ARTIC owns hospitality-related services providing cost-effective support services in a shared service model. The company’s current trajectory has ARTIC continuing to increase its investments in the hospitality sector and accumulating a portfolio of world-class hotels located in gateway cities around the world.
Hodges Ward Elliott is the leading hotel brokerage and investment banking firm in the country providing total capital solutions, including hotel sales, recapitalizations and debt placement. Over the past 5 years, Hodges Ward Elliott has sold or financed more than $18 billion of hotels and resorts across the U.S. and Europe including nearly $3 billion since January 1, 2015.