JV Purchases and Rebrands Quincy Hotel
A JV between Red Lion Hotels Corp and an affiliate of Shelbourne Falcon Investors has purchased The Quincy Hotel for $22.5M.
The JV acquired the hotel and ground lease for the property from Modus Hotels and Cafritz Interests. The 10-story property at 1823 L St NW will be rebranded as Hotel RL Washington DC. RLHC plans to invest $2.3M in upgrades for the hotel, including the development of a new seating concept for the lobby and new technologies, GlobeSt reports.
This will be the sixth property that RLHC has introduced under the Hotel RL brand. This past summer, the company opened Hotel RL Baltimore Inner Harbor. [GS]