The Embassy Suites by Hilton Napa Valley has been sold for $102m to Mani Brothers Real Estate Group. The seller, RLJ Lodging Trust, sold the 205-room property for just over $497,560 per room key. The buyer plans to convert the hotel into a Curio Collection property, complete with a refurbishment and overall renovation of the existing property. Upgrades will include a redesign of all guest rooms and restaurant spaces. A full-service space will be put in as well as new pools and 54 additional guest rooms. RLJ Lodging Trust intends to apply the net proceeds from the sale to pay down its credit facility and for general corporate purposes.
