REIT Sells Alexandria Hilton To Prior Owner For Half Of 2018 Price

Ashford Hospitality Trust offloaded a 252-room hotel in the heart of Old Town Alexandria at a sharp discount from the price it paid eight years ago.

The Hilton Alexandria Old Town At 1767 King St.

The Dallas-based REIT sold the Hilton Alexandria Old Town to Charlotte-based Lodging Capital Partners, Ashford revealed in a filing with the Securities and Exchange Commission. It said the property sold for $58M in an all-cash deal.

This is the second time Lodging Capital Partners has owned the property. After owning it for five years, the company sold it to Ashford Hospitality Trust in 2018 for $111M.

Ashford Hospitality Trust and Lodging Capital Partners didn't respond to Bisnow's requests for comment.

The 26-year-old hotel at 1767 King St. sits next to the King Street-Old Town Metro station.

With its 2018 purchase, Ashford had received a $73.5M, five-year interest-only, nonrecourse mortgage, the company revealed at the time. It was the first acquisition under a new agreement expected to benefit from Ashford’s Enhanced Return Funding Program, under which Ashford Inc. would provide equity for the REIT's acquisitions.

Ashford’s filing says it paid back $32.5M of the loan along with this sale. It also released financial statements that mention a preliminary “non-recurring loss associated with the disposition of the hotel property.”

The REIT reported a $28.4M operating income loss on the Hilton property in 2025.

HREC Investment Advisors' Scott Stephens and Mark Morris brokered the deal on behalf of the seller.

Ashford, which owns more than 15,000 hotel rooms across the country, was trading on the New York Stock Exchange at $2.60 per share as of 2 p.m. ET Monday, down nearly 60% year-over-year.

Ashford’s properties range between what it calls luxury and upper midscale. Locally, the REIT owns The Melrose in Georgetown, The Churchill north of Dupont Circle, Embassy Suites hotels in Crystal City and Herndon, the Marriott Gateway in Arlington, Courtyards in Gaithersburg and Crystal City, and the Residence Inn Fairfax.

Lodging Capital Partners, which also has a national hotel portfolio, provided debt for the 470-room Marriott Georgetown in 2025, according to its website.

Like the D.C. region, Alexandria’s hotel sector has been struggling over the past year, ALXnow reported in October, citing city data.

While revenue per available room, or RevPAR, in Alexandria increased by 4.5% between July 2024 and January 2025, the metric declined 12.4% between February and April of last year, and it fell 6.5% between May and August.

By comparison, between May and August, Arlington’s RevPAR was down 7.8%, Fairfax County’s was down 0.5%, D.C.’s was down 9.7%, and Prince George’s County’s was down 4.1%.

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