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W Downtown-Atlanta Goes to Ashford Hospitality


Asford Hospitality Trust is under contract to buy the W Atlanta Downtown hotel for $56.8M, or some $239k/key, from Square Mile Capital. Ashford reports in an SEC filing that it has put more than $45M of non-recourse financing on, and has tapped Starwood Hotels to manage, the 237-room property. This was one of a slew of Atlanta hotels put on the market in recent months, which we reported here, including The W Atlanta-Midtown (owned by AEW Capital and Noble Investments) and two Novare properties: Twelve Hotels Centennial Park and Twelve Hotels Atlantic Station.