JLL has sold the Lansdowne Resort in Leesburg, Virginia on behalf of LaSalle Hotel Properties to Dejia, a first-time U.S. hotel investor, for $133 million.
Managing Director Robert Webster, EVP Tim Southard and VP John Harper led the JLL team on the 296-guestroom property transaction.
“Investors are paying more attention to assets in the Washington, D.C. metro area due to improving market fundamentals,” Webster said in a statement. “The size of this resort, along with the luxurious amenities it offers guests, presented a valuable opportunity to own an iconic property in a spectacular location.”
The Lansdowne Resort includes five food and beverage outlets, 55,000 square feet of meeting space, 45 holes of golf, three tennis courts, five pools, a fitness center and a 12,000-square-foot spa.
The resort is situated on a 476-acre site overlooking the Potomac River, located 15 minutes from Dulles International Airport and 35 minutes from Washington, DC.
Part of a Trend
Dejia’s purchase of the Lansdowne Resort comes amidst a recent surge in Asian investment firms’ American hotel purchases. In response to the record-breaking uptick in Chinese travel, Chinese firms, including HNA Group and Anbang Insurance Group, intend to profit from tourists’ expenses.
Former aviation company HNA Group purchased a 25-percent stake in Hilton Worldwide Holdings last October, making them the largest stakeholder for the hotel company. And not only did Anbang land a $5 billion purchase of 15 American hotels in September 2016, but also it now owns New York’s Waldorf Astoria as of 2015. The $2 billion deal has been recorded as the highest price ever paid for an American hotel.