Washington, D.C. (August 1, 2024) – Frontier Development & Hospitality Group LLC and its joint venture partner Basis Investment Group announced today the acquisition of the Cambria Washington DC, Downtown/Convention Center, a 182-key hotel located at 899 O Street NW, Washington, D.C. 20001. The hotel has joined Hyatt’s portfolio as Hyatt Washington DC / Convention Center and now participates in Hyatt’s award-winning loyalty program, World of Hyatt loyalty, which allows members to have the opportunity to earn and redeem points on stays at the hotel and across the World of Hyatt portfolio. The hotel has also commenced a comprehensive property-wide renovation, and upon the completion of the renovation – slated for summer 2025 – it will convert to the Hyatt House brand, expanding Frontier’s growing portfolio of premium select-service hotels. This announcement underscores a longstanding and proven ability by Frontier and BIG—both Black-led and founded firms—to shape the skylines of the communities in which they operate.
Based in the Historic Shaw District of the Nation’s Capital, major institutions such as the Walter Washington Convention Center, retail destination CityCenter DC, the National Mall, and numerous government agencies and corporate headquarters, the hotel features a range of amenities,includinga fitness center, bar and lounge, meeting rooms, and a rooftop terrace with stunning views of the city.
“We are thrilled to add this Hyatt hotel to our portfolio and look forward to rebranding it Hyatt House Washington DC, Downtown/Convention Center in 2025,” said Evens Charles, Founder and Managing Principal, Frontier Development & Hospitality Group. “This acquisition aligns perfectly with our core value-add strategy of investing in high-quality assets in prime locations with strong growth potential. We are confident that the conversion to the Hyatt House brand will unlock significant value for our investors and guests.”
Joseph Yi, CIO & Principal, of Frontier Development & Hospitality Group, said, “This transaction represents a unique opportunity to acquire the formerly Cambria Convention Center/DC hotel, a well-located asset in our nation’s capital. The Washington D.C. hotel market has shown a robust recovery to pre-COVID levels, and we are bullish on the long-term fundamentals of this dynamic market.”
Located at 899 O Street NW, Washington, D.C. 20001, the hotel has integrated into the World of Hyatt loyalty program as a Hyatt brand as of August 2024. Members will have the opportunity to earn points on their hotel stays to use across the World of Hyatt portfolio.
Tammy K. Jones, Co-Founder, CEO of BIG, added, “We are grateful for the continued partnership we have built over the years with Frontier, as we are excited to continue investing in and scaling diverse-led firms. This hotel equity investment represents a trusted partnership with Frontier, who has managed to find a gemstone offering outsized returns in a tough credit market.”
“Hyatt remains committed to expanding the Hyatt House brand footprint in key markets where guests and World of Hyatt members want to be,” said Jim Tierney, SVP Select Service Development, Hyatt. “Washington D.C. is an important market to Hyatt, with leisure and business visitors coming through to experience both short and long-term stays. We look forward to inviting guests to enjoy everything the hotel has to offer, from the rooftop terrace with views of the city to a place to host their next meeting.”
To learn more about the Hyatt House brand, please visit hyatthouse.com.
The term “Hyatt” is used in this release for convenience to refer to Hyatt Hotels Corporation and/or one or more of its affiliates.
