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Sofitel Washington DC LaFayette Square Hotel

(WASHINGTON, DC) -- If it wasn't the highest-priced-per-room-deal this year, then LaSalle Hotel Properties' $95 million acquisition announced today was surely the second priciest, local hospitality brokers tell Real Estate Channel.

LaSalle paid $400,843 per room for the eight-year-old, 237-room Sofitel Washington DC Lafayette Square hotel, two blocks from the White House.

"Washington, DC continues to be one of the strongest markets in the US and the location and quality of this asset are among the best in the city, " says Michael D. Barnello, President and Chief Executive Officer of LaSalle Hotel Properties.

The Sofitel is at the corner of 15th and H Streets in the heart of the central business district in downtown DC.

The property, which is managed by Sofitel (Accor SA), has 17 suites, the 70-seat iCi Urban Bistro, the 60-seat LeBar lounge and guestrooms with four-fixture bathrooms.

Gilles C. Pélisson

Besides its proximity to the White House, the Sofitel, with about 5,500 square feet of meeting and function space, is also one block from the U.S. Treasury complex and within walking distance of numerous national monuments and the Smithsonian.

"We are pleased to enter into a new relationship with Accor and its Sofitel brand," says Barnello. "We look forward to working with them and potentially expanding our relationship in the future."

"Accor is delighted to work with LaSalle Hotel Properties," says Gilles C. Pélisson, Chairman and Chief Executive Officer of Accor.  "We are very proud to operate the Sofitel Washington, DC Lafayette Square and look forward to continued success with this property." 

White House

Barnello says LaSalle Hotel Properties is a leading multi-operator real estate investment trust owning 32 upscale full-service hotels, totaling over 8,700 guest rooms in 14 markets in 11 states and the District of Columbia.

The Company focuses on owning, redeveloping and repositioning upscale full-service hotels located in urban, resort and convention markets.

Pelisson says Sofitel, is the only French luxury hotel brand with a presence on five continents with 130 addresses, in almost 40 countries with more than 30,000 rooms. Accor is based in Paris, France.

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