Washington, D.C., September 6, 2025
News Summary
Newport Beach-based T2 Hospitality has purchased the Washington Marriott at Metro Center in downtown Washington, D.C., in a deal reported at roughly $127.99 million (recorded about $128 million). The full-service hotel, listed with 454–459 keys, works out to roughly $281,916 per key and offers about 13,000 square feet of event space. A major renovation was completed in May 2023. The seller was a subsidiary of Host Hotels & Resorts and the transaction included seller-provided financing recorded at about $114 million. The location’s transit access and nearby office development helped drive buyer interest.
Private buyer buys downtown D.C. Marriott for about $128 million
A Newport Beach hotel owner has purchased the Washington Marriott at Metro Center in downtown Washington, D.C., in a deal recorded at roughly $127.99 million — commonly rounded to $128 million. The 13-story, full-service property sits at 775 12th Street NW, next to a Metro Center station entrance and a large office site being cleared for new construction.
What changed hands
The buyer is Newport Beach–based T2 Hospitality, which appears to be making its first hotel purchase in Washington, D.C. The seller was a Bethesda-based real estate investment trust that has owned the hotel through an affiliate since the mid-1990s. Deed records list a financing package provided in part by the seller’s trust, showing a loan of about $114 million tied to the purchase.
Size, rooms and recent updates
The property is listed in some reports as having 454 keys and in others as 459 keys. The hotel offers roughly 13,000 square feet of event space and completed a renovation in May 2023. Recent upgrades included a new front entrance and lobby, a fitness center, a restaurant and a premium lounge. Deed entries typically record the land and building price and may not include furniture, fixtures and equipment values.
Financing and sale context
The purchase was financed in part by seller-provided debt. Records show the buyer obtained a note from the seller’s related trust of approximately $114 million. Other public references list slightly different loan figures, which is common when deals include multiple moving parts. It was not immediately clear from records why the seller chose to divest this asset.
Market impact and nearby activity
This sale ranks among the larger hotel trades in the city so far this year. It surpassed a prior downtown hotel sale earlier in the year that changed hands for about $92 million. Other recent moves in the local hotel market include a lender taking control of a 220-key property at a foreclosure auction and continued fallout from earlier large loans tied to landmark downtown hotels.
Buyer profile and holdings
The buyer operates a small portfolio concentrated mostly in California and one property in Denver. According to the buyer’s site, it owns roughly 13 hotels with just over 2,000 rooms. This purchase expands its footprint into a major East Coast business travel market.
Other industry activity highlighted with the sale
Several other hotel and resort transactions and projects were reported around the same time:
- A developer closed on a first-lien construction loan of about $40.9 million for an 8-story, 144-key Hotel Indigo in Fort Lauderdale, including a multi-level garage.
- A South Carolina owner bought its first Texas property, a 141-key extended-stay hotel in the Harwood District, and plans interior and exterior refreshes.
- A large Nashville hotel secured a new $218 million commercial mortgage-backed securities loan and an added $53 million of preferred equity, increasing the total preferred equity tied to the property to $88 million.
- Construction began on an ultra-luxury Bahamian resort project that will feature private bungalow accommodations and marina slips; first-phase completion is expected by mid-2028.
- A London-based hotel group bought a development site near the City of London for about £17.5 million to build a lifestyle hotel, with an expected all-in investment near £90 million.
- Local financing firms arranged a $16.5 million C-PACE construction loan for a 105-room Marriott Tribute hotel in Santa Barbara that will include rooftop amenities and ocean views.
Broader hotel market snapshot
A weekly industry snapshot for late August showed U.S. hotel occupancy near 63.4%, with average daily rate around $156 and revenue per available room just under $99. Performance varied by market, with some cities posting sharp drops tied to short-term events and others recording gains.
Why this matters
The sale shifts ownership of a large downtown hotel that serves business travelers and event groups. The buyer’s entry into the market and the use of seller-provided financing reflect broader trends of active trading, refinancing and development in the hotel sector, as owners reposition portfolios and developers push new builds in both urban and resort locations.
Frequently Asked Questions
Who bought the Washington Marriott at Metro Center?
The buyer was a Newport Beach–based hotel owner and operator that is expanding its portfolio into Washington, D.C.
How much did the hotel sell for?
The recorded sale price was about $127.99 million, commonly rounded to $128 million. Deed entries and reports note that furniture and fixtures may not be included in the recorded price.
How many rooms and how much event space does the hotel have?
Reports list the hotel at about 454–459 keys and approximately 13,000 square feet of event space.
Was the hotel recently renovated?
Yes. A renovation completed in May 2023 refreshed the lobby and added a new entrance, fitness center, restaurant and premium lounge.
How was the purchase financed?
The buyer secured significant seller-provided financing. Public records show a loan of roughly $114 million from a trust affiliated with the seller.
What other hotel deals or projects were noted at the same time?
Several projects were active, including a construction loan for a Hotel Indigo in Fort Lauderdale, a large refinance in Nashville, new development in the Bahamas, a London hotel site purchase, and local construction loans for a Santa Barbara Tribute hotel.
Key features at a glance
| Feature | Details |
|---|---|
| Sale price | $127.99 million (commonly rounded to $128 million) |
| Buyer | Newport Beach–based hospitality company expanding into D.C. |
| Seller | Large real estate investment trust that had owned the hotel since the 1990s |
| Keys | Reported between 454 and 459 keys |
| Event space | 13,000 sq ft |
| Renovation | Completed in May 2023; lobby, entrance, fitness center, restaurant, premium lounge |
| Financing | Seller-provided loan recorded near $114 million |
| Nearby development | Adjacent office demolition and replacement with a new trophy office tower |
| Local market note | Sale among the largest D.C. hotel trades this year; part of broader trading and development activity |
Deeper Dive: News & Info About This Topic
Additional Resources
- Commercial Observer: T2 Hospitality buys Washington Marriott at Metro Center
- Wikipedia: Washington Marriott at Metro Center
- Bisnow: Host Hotels sells downtown D.C. Marriott to California company
- Google Search: Host Hotels sells Washington Marriott Metro Center
- NBC Washington: Marriott Tribute Chinatown hotel coming to D.C.
- Google Scholar: Marriott Tribute Chinatown Washington DC
- Hotel Online: Washington Dulles Marriott Suites renovation
- Encyclopedia Britannica: Washington Dulles Marriott Suites
- Washington Post: Marriott conference-center contract labor (June 21, 2025)
- Google News: Marriott conference center contract labor
