On Wednesday, crowdfunding platform EarlyShares announced it has launched a new equity investment offering for conversion of the Quincy Hotel in Washington, D.C., into Red Lion Hotels’ new upscale boutique brand, Hotel RL.
Hotel RL is a new lifestyle brand positioned as the first “upscale three-star” property developed for design-conscious, socially-minded travelers. The hotel will benefit from the strong sponsorship of Red Lion Hotels Corporation and Shelbourne Falcon Investors.
Red Lion Hotels Corporation is a company primarily engaged in the franchising, ownership and operation of midscale and upscale hotels with more than 120 properties across 26 states. Hotel RL is Red Lion Hotels Corporation’s upscale brand and fastest growing.
Shelbourne Falcon Investors, a real estate private equity venture focused on opportunistic investments in commercial real estate, has programmatically partnered with Red Lion Hotels Corporation to expand the brand throughout the United States. Today Shelbourne Falcon owns 18 hotels in markets across the United States.
Heather Schwarz-Lopes, co-founder and CSO of EarlyShares, stated:
“By tapping into the millennial mindset, Hotel RL offers a fresh approach to hospitality that will resonate with the most influential market set since the baby boomers. We’re thrilled to be helping the sponsor meet their fundraising goals, while enabling accredited investors to capitalize on this unique opportunity to invest in an excited new brand located in one of the fastest growing metropolitan areas of the country.”
The Joint Venture acquired the property at the end of October 2015. It is situated in the heart of downtown Washington, DC, one block off the K Street corridor and a short walk to the White House, the immediate area known as the Golden Triangle, a premier and unparalleled business location just steps away from the White House and National Mall. The building was originally constructed in 1965 and includes 99 spacious guest rooms, lobby, lower-level meeting space and business center, underground parking garage, and two independently operated leased restaurants.
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