Dejia buys first US hotel property in Virginia for $133 million

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.”

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

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.

Suggested Articles

The Inn at Elon, owned by an affiliated entity of Elon University, plans to use all revenue beyond operating costs to fund scholarships.

Her Lyda Sofa, Fascio Collection and Crossbeam table all earned recognition from the Chicago Athenaeum Museum of Architecture and Design.

The wearable device ensures hotel staff can quickly request help anytime and anywhere on property.