Washington D.C. is already witnessing the rise of luxury hotels and will see even more in the near future, adding to the city’s ability to host high-profile guests and generate more income from hospitality business.
Don Peebles, a national real estate developer who will be the keynote speaker at the Bisnow Lodging Investment Series East full-day conference on Oct. 23 said that high-end, luxury lifestyle hotels are coming to D.C. and they’ll be competing for a much broader demographic.
“Business leaders and political leaders will find the luxury lifestyle hotels attractive,” said Peebles.
The SLS Hotel at 901 Fifth St. NW with 176 rooms will be the first such hotel of high-end SLS brand opening in D.C. Other luxury hotels are also coming to Southwest Waterfront and Union Market district areas.
According to STR data firm, since 2012 the luxury hotel rooms in D.C. have shown a growth of about 17 percent, and in the past six years, below luxury rooms called upper upscale and upscale have grown by about 19 percent. Additionally, about 2,400 hotel rooms are being built in D.C, as per STR.
The Conrad Hotel is another 370-room luxury hotel that is under construction at CityCenterDC. Two other luxury brands have also signed deals to open in D.C. next fall. Virgin Hotels is planning to open the first 178-room hotel in the capital. In March this year, Thompson Hotels also signed on to open its 225-room luxury hotel at The Yards development.