Savills Hotel Group, part of the global real estate services company, has facilitated the sale of the Hotel Monticello of Georgetown in Washington, DC.  Marc Magazine, Managing Director of Savills Hotel Group, brought together both the buyer and seller in this off-market transaction. 

“This transaction shows that even though the pace of selling has slowed down, there is still a demand for quality properties.” said Mr. Magazine.  “The Hotel Monticello of Georgetown is typical of the kind of hotel property coveted in this market – one with a great location for both business and leisure travelers with amenities as well as a level of service that exceeds the expectations of its guests. The off-market nature of the transaction shows just how connected to buyers and sellers Savills is, enabling us to complete deals beneficial to both sides in an extremely timely manner.”

Located in historic Georgetown, the Hotel Monticello of Georgetown is a European-style hotel located on the street that Thomas Jefferson called home. The hotel currently offers 39 studio and one-bedroom suites, but has the ability to expand its room count. The buyer, Monticello Hotel Owners LLC, plans major renovations to the property to bring it up to today’s boutique standards. The hotel’s underground parking is an amenity not often found in Georgetown.

Savills Hotel Group provides owners, investors, borrowers and lenders with strategic advisory services that maximize the long-term value of hotel assets.  The group concentrates on investment transactions, foreign representation and asset management. The latter service component focuses on the renovation, repositioning and rebranding of troubled lodging assets.