Clarion Partners Sells Two Kimpton-Branded Alexandria Hotels
Clarion Partners has sold two Alexandria Kimpton-branded hotels, the Hotel Monaco (above) and the Morrison House.
AllianceBernstein and Fulcrum Hospitality bought the hotels for an undisclosed price and have plans to convert them to Marriott flags, the Washington Business Journal reports.
Since Monaco is a Kimpton brand, the 244-room hotel will get a new name. The 45-room Morrison House will likely keep its name. Clarion bought both hotels in 2006 and gave each property a renovation in the last two years.
Baltimore-based Legg Mason bought Clarion earlier this year. Last year, managing director Rob Greer said the firm was "overleveraged" in the DC area and planned to sell some assets.
Alexandria still has one Kimpton hotel, the Lorien Hotel & Spa. The District has some Kimpton hotels, including Foxhall's Glover Park Hotel that opened this summer following renovations. [WBJ]
