DoveHill, Wurzak Hotel Group purchase Sheraton Reston Hotel in Reston, VA

Hotel industry news : DoveHill Capital Management, a real estate investment company and Wurzak Hotel Group have acquired the Sheraton Reston Hotel in Reston, Virginia for an undisclosed price.

The acquisition done through their combined venture is to grow its vertically integrated investment platform.

Sheraton Reston Hotel comprises 298 rooms and is the first investment of DoveHill in the Washington DC area. DoveHill’s related company Wurzak Hotel Group will manage the operations of the hotel.

Following the acquisition, DoveHill will launch a major renovation and repositioning of the Sheraton Reston Hotel with an aim to significantly lift its position as a leading hotel in the Reston market.

The renovation will see modernizing all the guest bathrooms, a gastro-pub concept, a re-imagined lobby, improvements to the meeting space and a complete redesign of the exteriors of the hotel building.

Business deal done. Photo courtesy of adamr at FreeDigitalPhotos.net.

Jake Wurzak – Founder and Managing Member of DoveHill, said: “We are thrilled to expand into the suburban Washington D.C market. The Sheraton enjoys tremendous benefits associated with its strategic placement between Washington, DC and Washington Dulles International Airport, and we look forward to redeveloping the hotel into one of the top hotels in the region.

“Our geographic expansion is a result of our continuing effort to seek out value-add opportunities in highly strategic markets throughout the country and provide outsize risk-adjusted returns for our investors.”

Located in the center of Fairfax County’s commercial market, the Sheraton Reston Hotel is quite near to various Fortune 500 companies, Federal Government Department Headquarters. It is also a short metro ride away from Washington DC and also close to the Reston Town Center.

Eric Davies – Chief Operating Officer of the Wurzak Hotel Group, commenting on the acquisition of Sheraton Reston Hotel said: “Our experience, dedication and presence will only further the vast hospitality development in Fairfax County, serving its increasing sectors in software development, telecommunications, homeland security and financial services.

“With our upcoming improvements to the hotel, we intend to capitalize on the growth in an impactful way.”