Washington, D.C.—Frontier Development & Hospitality Group LLC and its joint venture partner Basis Investment Group (BIG) announced the acquisition of the Cambria Washington DC, Downtown/Convention Center, a 182-key hotel. The hotel has joined Hyatt’s portfolio as Hyatt Washington DC/Convention Center and participates in Hyatt’s loyalty program, World of Hyatt. The hotel has also commenced a comprehensive property-wide renovation, and upon completing the renovation, slated for summer 2025, it will convert to the Hyatt House brand. This announcement underscores the longstanding ability of Frontier and BIG, both Black-led and founded firms, to add to the communities in which they operate.
Based in the Historic Shaw District and near institutions such as the Walter E. Washington Convention Center, retail destination CityCenter DC, the National Mall, and numerous government agencies and corporate headquarters, the hotel has a range of amenities, including a fitness center, bar and lounge, meeting rooms, and a rooftop terrace.
“We are thrilled to add this Hyatt hotel to our portfolio and look forward to rebranding it Hyatt House Washington DC, Downtown/Convention Center in 2025,” said Evens Charles, founder and managing principal, Frontier Development & Hospitality Group. “This acquisition aligns perfectly with our core value-add strategy of investing in high-quality assets in prime locations with strong growth potential. We are confident that the conversion to the Hyatt House brand will unlock significant value for our investors and guests.”
Joseph Yi, CIO and principal, Frontier Development & Hospitality Group, said, “This transaction represents a unique opportunity to acquire the formerly Cambria Convention Center/DC hotel, a well-located asset in our nation’s capital. The Washington, D.C., hotel market has shown a robust recovery to pre-COVID levels, and we are bullish on the long-term fundamentals of this dynamic market.”
Tammy K. Jones, co-founder, CEO, BIG, said “We are grateful for the continued partnership we have built over the years with Frontier, as we are excited to continue investing in and scaling diverse-led firms. This hotel equity investment represents a trusted partnership with Frontier, who has managed to find a gemstone offering outsized returns in a tough credit market.”
“Hyatt remains committed to expanding the Hyatt House brand footprint in key markets where guests and World of Hyatt members want to be,” said Jim Tierney, SVP select service development, Hyatt. “Washington D.C. is an important market to Hyatt, with leisure and business visitors coming through to experience both short and long-term stays. We look forward to inviting guests to enjoy everything the hotel has to offer, from the rooftop terrace with views of the city to a place to host their next meeting.”
