Good Times Continue To Roll For DC Hotel Market
After seeing some record-breaking numbers in 2015, the DC hotel market is poised to continue growing and will see even more rooms come online this year and next.
Several hotels are slated to open in the Greater DC area by the end of this year, with even more on the way in 2017. All told, the pace of hotel construction in the area is about 40% above where it was last year, the Washington Business Journal reports.
The year 2016 will see more than 2,000 hotel rooms added to the market across several projects. Among the signature projects scheduled to deliver this year are the Trump International Hotel at the site of the Old Post Office building. Future years will bring the Conrad by Hilton at CityCenterDC, and a dual-flag hotel concept at The Wharf.
The good times for DC hotels are not strictly relegated to new development either. Earlier this month, the iconic Washington Hilton traded hands for a whopping $315M. [WBJ]
