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Dive Brief:
Bethesda, Maryland-based real estate investment trust DiamondRock Hospitality sold the 410-room Westin Washington, D.C. City Center hotel for $92 million, the trust announced in a release.
While DiamondRock did not disclose the buyer, CoStar reported that Crestview Hills, Kentucky-based Columbia Sussex acquired the Westin property, adding it to a portfolio of more than two dozen hotels across the country. Columbia Sussex did not respond to a Hotel Dive request for comment.
The sale comes as investment activity is slated to ramp up this year for deals valued between $50 million and $150 million, particularly in urban markets.