At the end of 2012, Modus Hotels announced the purchase of the Brookshire Suites in Baltimore’s famous Inner Harbor. The Washington, D.C.-based full service hotel development and management company paid $7.85 million for the property, according to PropertyShark. In the weeks that followed the announcement, it started work on a multi-million dollar renovation project, to breathe new life into the old building, originally constructed in 1958.
The project was finished a little over a year later, delivering a modern lifestyle hotel to downtown Baltimore. Modus Hotels relaunched the newly designed Brookshire Suites in February 2014, with a new lounge, new suites, and a new look. Seattle-based designers, Dawson Design Associates revamped the interiors of the property.
The Brookshire Suites is located at 120 East Lombard Street, close to such popular attractions as the National Aquarium, the Baltimore Convention Center, Baltimore Orioles’ Stadium, Camden Yards and the Baltimore Ravens M&T Bank Stadium. It offers 97 studio and one-bedroom suites, with oversized desks, mini-fridges, free Wi-Fi, large windows and much more. The hotel also includes 2,000 square feet of event space, a RedBAR in the lobby and street art by Baltimore Love Project artist, Michael Owen.
Marcus & Millichap sees 2014 as an uncertain year for the hotel market in the Mid-Atlantic region. Maryland, as well as the neighboring states of Virginia and West Virginia, registered a decline in occupancy in 2013, due to the loss of government-related room demand and reduced spending by households affected by government and private-sector furloughs and layoffs. However, the hotel market performed decently in D.C. and Delaware, where occupancy was greater than in 2012. This, together with the new federal budget that restores some spending, raises hopes that performance will improve in the months ahead.Photo credits: www.brookshiresuites.com Charts courtesy of Marcus & Millichap Real Estate Investment Services.