Hilton’s Latest Brand to Join D.C.’s Pike & Rose Development

The Canopy by Hilton Washington, D.C. Bethesda North is the latest brand to join Federal Realty’s mixed-use development.

Complementing the existing office, retail and restaurant space at the site, a Canopy by Hilton hotel has broken ground at Federal Realty Investment Trust’s Pike & Rose mixed-use development in North Bethesda, Md. The announcement of the new Canopy by Hilton Washington, D.C. Bethesda North came from Federal Realty and its joint venture partner in the development, The Buccini/Pollin Group.

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The Inn Crowd Goes Small

Downtown Los Angeles hotels are often mammoth affairs. The proposed $500 million J.W. Marriott expansion at L.A. Live, for example, will stand 38 stories tall and create 755 rooms.

A project at 820 S. Spring St. is going smaller — much smaller. Signage went up in April for the Tuck Hotel. The 14-room establishment is awaiting inspections and the goal is to open in late summer.

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EB5 Capital Raises $40M From Foreign Investors For Dual-Flag Marriott Project

The second phase of the huge Marriott project next to the Walter E. Washington Convention Center has received more than $40M in financing, raising the funds from 81 foreign investors, via EB5 Capital, for developers Quadrangle Development Corp and Capstone Development. EB5 Capital raised the funds through the EB-5 Immigrant Investor Program. The project, known as Columbia Place, will bring two new hotels to the area across from the convention center, the final two pieces of a three-hotel Marriott development. The first phase included the four-star, controversial Marriott Marquis, which is connected to the Convention Center via an underground tunnel, that opened back in 2014. EB5 Capital provided $5M in equity financing for that leg of the development as well.

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Tourists spent a record $7.1B in the District last year

A record-number of Americans visited the District last year, helping boost tourist spending in the nation’s capital to an all-time high of $7.1 billion.

More than 19.3 million Americans came to the District in 2015, an increase of 1 million visitors, or 5.3 percent, from the year before, according to a report released Tuesday by Destination D.C., the District’s marketing arm. The data was compiled by McLean-based travel research firm D.K. Shifflet.

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