HREC arranges sale of Crowne Plaza in Rockville, Md.

HREC Investment Advisors arranged the sale of the 150-guestroom Crowne Plaza Hotel located in Rockville, Md.

Kevin Hanley (SVP – Washington, D.C.), Ketan Patel (SVP – Washington D.C.) and Geoff Davis (president & senior principal – New York), exclusively represented the owner.

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The property is near government complexes including the National Institute of Standards and Technology (NIST), The Department of Energy, National Institutes of Health (NIH) and National Cancer Institute.

The buyer plans to convert the hotel to a Radisson Hotel affiliation, shortly after the purchase.

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Construction of the hotel on the site of the historic Equity Chambers building has commenced and the project is expected to open by Q2 2020.

The co-located conferences gave attendees the opportunity to hear from executives as well as explore new products and trends.

The report looks at what food-and-beverage options would lead guests to choose one hotel over another and to stick with a certain brand.