$65-Million Sale: Rosewood Takes Over Capella
It's official: Rosewood Hotels & Resorts has been appointed by CTF Georgetown Hotel LLC., new owners of Capella Washington, D.C., to take over the management of the hotel, which opened in 2013 on 31st Street NW, next to the C&O Canal.
"Effective April 21," according to Rosewood, "the hotel, formerly owned by Castleton Hotel Partners I, LLC., has been renamed and is now known as Rosewood Washington, D.C. Rosewood and Capella Hotels are working closely together to ensure a smooth transition for guests, associates and partners."
New to town is the Rosewood's managing director, Pascal Forotti.
Meanwhile, Castleton Hotel Partners I, LLC, also announced the $65-million sale of the 49-room Capella, an office building transformed into a hotel by Castleton. The Capella quickly garnered high praise from travel experts.
“I’m very humbled by all that we have been able to accomplish in our first hotel venture and our partnership with Capella Hotel Group, turning a former office building into one of the best luxury hotels in not just the nation’s capital but the entire country,” said Bruce Bradley, managing member of Castleton Hotel Partners I, LLC. “As a developer, we have made it our mission to identify unique business opportunities and to drive value for our partners. I would like to thank Capella Hotel Group for their assistance in helping us achieve these goals with their incredible service level and globally recognized brand.” “Capella Washington, D.C, was our first Capella branded property in the United States and we could not be more pleased by the excellence in which we achieved our vision,” said Horst Schulze, president and CEO of Capella Hotel Group.
"Rosewood Washington, D.C., is an exciting addition to Rosewood's collection of properties and strengthens our presence in North America," said Sonia Cheng, chief executive officer of Rosewood Hotel Group. "The hotel draws on the capital's rich culture and history to express Rosewood's trademark philosophy of 'A Sense of Place' in innovative and memorable ways."