DiamondRock Hospitality Completes Sale of Westin Washigton, D.C. City Center
BETHESDA, Maryland—DiamondRock Hospitality Company announced that on Feb. 19, 2025, it completed the sale of the 410-room Westin Washington, D.C. City Center for a contract price of $92.0 million. The sales price represents an 11.2x multiple on 2024 hotel EBITDA and a 7.5 percent capitalization rate on 2024 hotel net operating income, or a capitalization rate of 5.6 percent inclusive of the company’s projected capital expenditures. Excluding a one-time property tax credit and temporary discount […]
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