News
Madison Hotel Officially Sold to Loews
March 1, 2013
Loews Hotels' purchase of the 353-room Madison Hotel from Jamestown officially closed Wednesday, with a recorded price in DC public records of $125M. That results in a price per room of about $352k (or $62.5M per driveway column), which a source tells us is in line with a recently renovated property like the Madison. Jamestown invested $20M on a facelift for the rooms, meeting space, and Palette restaurant.
