Washington, D.C.—Frontier Growth & Hospitality Group LLC and its three way partnership accomplice Foundation Funding Group (BIG) introduced the acquisition of the Cambria Washington DC, Downtown/Conference Middle, a 182-key lodge. The lodge has joined Hyatt’s portfolio as Hyatt Washington DC/Conference Middle and participates in Hyatt’s loyalty program, World of Hyatt. The lodge has additionally commenced a complete property-wide renovation, and upon finishing the renovation, slated for summer season 2025, it’s going to convert to the Hyatt Home model. This announcement underscores the longstanding potential of Frontier and BIG, each Black-led and based corporations, so as to add to the communities wherein they function.
Based mostly within the Historic Shaw District and close to establishments such because the Walter E. Washington Conference Middle, retail vacation spot CityCenter DC, the Nationwide Mall, and quite a few authorities companies and company headquarters, the lodge has a variety of facilities, together with a health heart, bar and lounge, assembly rooms, and a rooftop terrace.
“We’re thrilled so as to add this Hyatt lodge to our portfolio and stay up for rebranding it Hyatt Home Washington DC, Downtown/Conference Middle in 2025,” stated Evens Charles, founder and managing principal, Frontier Growth & Hospitality Group. “This acquisition aligns completely with our core value-add technique of investing in high-quality property in prime areas with robust development potential. We’re assured that the conversion to the Hyatt Home model will unlock vital worth for our traders and visitors.”
Joseph Yi, CIO and principal, Frontier Growth & Hospitality Group, stated, “This transaction represents a singular alternative to amass the previously Cambria Conference Middle/DC lodge, a well-located asset in our nation’s capital. The Washington, D.C., lodge market has proven a sturdy restoration to pre-COVID ranges, and we’re bullish on the long-term fundamentals of this dynamic market.”
Tammy Ok. Jones, co-founder, CEO, BIG, stated “We’re grateful for the continued partnership we’ve got constructed over time with Frontier, as we’re excited to proceed investing in and scaling diverse-led corporations. This lodge fairness funding represents a trusted partnership with Frontier, who has managed to discover a gemstone providing outsized returns in a troublesome credit score market.”
“Hyatt stays dedicated to increasing the Hyatt Home model footprint in key markets the place visitors and World of Hyatt members wish to be,” stated Jim Tierney, SVP choose service improvement, Hyatt. “Washington D.C. is a crucial market to Hyatt, with leisure and enterprise guests coming by to expertise each quick and long-term stays. We stay up for inviting visitors to get pleasure from every part the lodge has to supply, from the rooftop terrace with views of the town to a spot to host their subsequent assembly.”
