Garden Inn BWI Airport for $21.9 million
James L. Francis, President and CEO, stated, “The Hilton Garden Inn BWI Airport hotel is the seventh hotel Highland has acquired. The acquisition of this hotel fits our strategy to invest in upscale full-service and premium limited-service and extended stay hotels in major urban, airport and suburban markets. With the expansion and subsequent growth potential of the Baltimore/Washington International Airport, this hotel should be well-positioned to generate increasing returns and long-term value appreciation.”
With the acquisition of the Hilton Garden Inn BWI Airport property, the Company now owns seven hotel properties with an aggregate of 1,725 rooms in five states.
The 158-room Hilton Garden Inn BWI Airport hotel opened in June 2001
and is located within two miles of the Baltimore/Washington International
Airport and within eight miles of Baltimore’s Inner Harbor area.
The hotel contains over 2,000 square feet of meeting space and provides
such amenities as complimentary high-speed internet access, a pool and
fitness room and airport shuttle transportation. In addition to the
airport, other demand generators within the airport submarket include such
companies as Northrop Grumman, Kodak, MCI, All Meade, and the National
Certain statements and assumptions in this press release contain or are based upon “forward-looking” information and are being made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Highland Hospitality Corporation
|Also See:||Highland Hospitality Corporation Acquires the 238-room Hilton Tampa Westshore for $29.5 million; Approximately $124,000 per room / January 2004|
|Highland Hospitality Corporation Acquires the 351-room Hyatt Regency Savannah for $50.0 million / January 2004|
|Highland Hospitality Corporation Acquire the 252-room Plaza San Antonio Marriott for $32.5 million / December 2003|