The Ritz Carlton Georgetown has been acquired by the Philadelphia-based Hersha Hospitality Trust for $32.5 million. Trading for $377,907 per room, the 13 year old property is the company’s fourth D.C. property, following the St. Gregory Hotel, Capitol Hill Hotel and Hampton Inn by Hilton Washington. Hersha owns 20 different types of branded hotels, but this is its first Ritz-Carlton. The property was sold and developed by New York City-based Millennium Partners. The $175 million mixed-use complex was previously a 70-year-old brick industrial building. The development includes the Ritz-Carlton Hotel, the 28-unit Residences at The Ritz-Carlton Georgetown, the AMC Loews Georgetown 14 and an adjacent 600-space parking garage.
