District Hospitality Partners, a privately held hospitality investment group that owns properties nationwide, has acquired the Westin Annapolis in Maryland. Terms of the deal were not disclosed but according to records, Crescent Real Estate previously owned the property.
Located in historic downtown Annapolis, the 225-room property is close to the United States Naval Academy, Navy-Marine Corps Memorial Stadium, Maryland State House, and Chesapeake Bay.
"The Westin Annapolis is an iconic asset in the Annapolis hotel market and a perfect fit for our portfolio as we continue to accelerate our acquisition pace,” District Hospitality Partners CEO Fred Malek said in a statement. “The property is located in a growing market with high barriers to entry and benefits from the balanced strength of its group and transient customers. Properties with high cash flow in strong markets are the type of assets we are looking for to increase our hospitality presence.”
The Westin Annapolis underwent a guestroom renovation in 2020 that updated both casegoods and soft goods and modernized the guest bathrooms. District Hospitality is planning a significant renovation to the bar, restaurant and lobby.
With 13 event spaces encompassing over 19,000 square feet of meeting space, including two kitchens, the hotel has the most meeting space of any venue in Annapolis. Additional amenities include a fitness center and an indoor pool.
Hotel management firm HEI Hotels & Resorts will continue to manage the asset. Eastdil Secured served as the debt placement advisor, and Wells Fargo provided the financing.