Sage Hospitality has acquired the majority interest in a new hotel in Washington D.C., saying that it sees a lot of growth potential for properties in the nation’s capital.
The Denver-based hotel ownership and operations company also will take over the management contract for the Homewood Suites by Hilton Washington D.C. — Capitol Navy Yard, which opened in November.
Englewood LLC and CG Investments developed the property and will maintain minority shares in the facility. Sage previously had no role in the hotel.
“We are very excited about investing in a city where we have seen, and expect we will continue to see, a significant amount of growth,” said Michael Everett, Sage chief investment officer.
