Hunter Hotel Advisors announced today the sale of the 203-room Wyndham Garden Hotel in Gaithersburg, M.D., wherein Hunter exclusively represented the seller, a private investment group based in Wichita, Kan.
Terms of the deal were not disclosed.
The buyer, Baywood Hotels of Washington, D.C, is planning a major renovation to rebrand the hotel as part of a strategy to better serve the upscale D.C.-Baltimore market.
“We executed a comprehensive marketing process that resulted in multiple offers,” said Kyle Stevenson, SVP of Hunter’s D.C. office, who handled the transaction of the seven-story hotel. “At Hunter, our marketing strategies are producing accelerated closings such as this one, which closed in just 60 days,” said David Perrin, a senior associate at Hunter. “The expanding economy and availability of financing continue to drive sales.”
Hunter’s seven brokerage offices specialize in select and full-service hotels and currently represent more than 100 hospitality assets nationally.