Electra America Hospitality Group, a JV between Electra America and AKA, has acquired the 152-room One Washington Circle Hotel from George Washington University. The Washington, DC property will undergo a $30 million renovation and re-open in June 2023 as an AKA-branded hotel.

Marc Magazine at Savills represented the seller.

The nine-story property in DC’s West End neighborhood was built in 1964 and last renovated in 2003.

 “This was an excellent opportunity to acquire a hotel asset in need of renovation in a high barrier-to-entry market that will enjoy substantial growth as a result of multiple demand drivers, including proximity to large, prestigious academic institutions, governmental agencies and tourism attractions,” said Russ Urban, CEO of EAHG.

 This marks EAHG’s fifth acquisition since the JV launched in early 2021 with the intent to acquire and reimagine hotels in major gateway cities. It has acquired hotels in Manhattan, Old Town Alexandria, Miami and West Palm Beach.