MetLife Acquires Fairmont Hotel in Washington, D.C. for $180 million from Ivanhoé Cambridge

MetLife, Inc. | December 16, 2014

New York, New York – MetLife, Inc. (NYSE: MET) announced that it has acquired the Fairmont Hotel in Washington, D.C., for $180 million from Ivanhoé Cambridge. The 415-room Fairmont has a four diamond rating from AAA and is one of the premier luxury hotels in the nation's capital. MetLife is the sole owner of the hotel, which is located in the West End of the capital next to historic Georgetown. Fairmont Hotels & Resorts will manage the property for MetLife. Washington, D.C., is one of the country's most stable hotel markets. "We're thrilled to add such a high-quality and well-known hotel as the Fairmont Washington to our portfoli...