Northview Hotel Group and an Oaktree Capital Management affiliate have jointly purchased the Bethesda Marriott hotel. Marriott Hotels & Resorts will continue to manage the property under a long-term contract.
Simon Hallgarten, a partner with Northview, said Monday that the new ownership will renovate the hotel. The renovations will feature new design elements Marriott plans to implement across the chain in 2014. As a result, the Bethesda Marriott will be one of the first to get the makeover.
Northview actually owned the hotel from 2004-2007, and - coincidentally - also renovated the property during that period. Hallgarten says that hands-on experience with the hotel, and the Bethesda hospitality market, will be a major advantage for the new owners. “Northview is thoroughly familiar with both the Bethesda Marriott and the wider Bethesda market, and we have confidence in the long-term value [of] the acquisition," he said.
The Bethesda Marriott features 407 rooms, a 180-seat 3-meal restaurant, 19000 square feet of meeting space, and indoor and outdoor pools. It is walking distance from Walter Reed National Military Medical Center and NIH. The Medical Center and Grosvenor Metro stations are nearby.
I've dined at the Bethesda Marriott since I was a child. Anybody remember Allie's Pantry and Kona Kai?