RLJ Lodging Trust Completes $24M Hotel Conversions
- Jan 27, 2012
RLJ Lodging Trust has recently completed a $24 million conversion of three hotels – the Hilton Garden Inn Pittsburgh University Place, the Hilton Garden Inn Durham and the Embassy Suites West Palm Beach-Central.
The conversions were part of the company’s capital improvement plan for a portfolio that includes 24 hospitality properties.
“As fully renovated, premium-branded hotels, these conversions are now well positioned to gain market share, see an increase in pricing power, and capitalize on the overall positive trends that we are seeing throughout the lodging industry,” said Thomas J. Baltimore, president and CEO. “Repositioning these hotels not only enhances the value of the assets, but also serves as tangible evidence of our core investment strategy to own quality with strong brand affiliations,” Baltimore added.
The 202-room Hilton Garden Inn Pittsburgh University Place has been rebranded from a Wyndham hotel. RLJ Lodging invested about $9 million in transforming the lobby, upgrading the rooms and renovating the exterior. In addition, the company has added a sky lobby and remodeled the business center.
Eight million dollars went into the repositioning of the 175-room Hilton Garden Inn Durham. The company opted to upgrade and expand the guestrooms, the lobby and the business center. The enhancements also included the addition of a new porte-cochere to the façade of the property.
The Embassy Suites West Palm Beach-Central was converted from a Crowne Plaza hotel. The $7 million investment went primarily to the creation of two-room suites and towards the renovation of the exterior façade.
RLJ Lodging Trust is a Maryland-based real estate investment trust focused on the acquisition of service and compact-full service hotels. The company’s portfolio includes 141 hotels throughout 20 states.