Across the nation’s top commercial real estate markets, hotel assets continue to be in high demand. This holds true in Seattle, with recent deals exemplifying this trend.
In one such deal, Oxford Collections acquired the Doubletree Arctic Club Hotel – Seattle for $31 million, or about $258,333 per room. According to King County public records, the property was sold by Philadelphia-based hospitality investment and development company GF Hotels & Resorts.
The hotel is located at 700 Third Avenue in Downtown Seattle. According to the property’s website, the hotel offers approximately 120 guest rooms, with the largest room totaling nearly 5,000 square feet. The property also includes 10,613 square feet of event space and six meeting rooms.
Other amenities include an onsite bar, dubbed the Polar Bar, and Juno, a restaurant that serves up to 20 people for private events.
The hotel is centrally located near a number of Seattle’s prominent tourist attractions, including Pike Place Market, CenturyLink Field and Columbia Center. The Link light rail also stops just across from the property, providing easy access to the rest of the city.
The Oxford Collection of hotels was created in 1988 in Bend, Oregon. Since then, the company has expanded its collection across 16 cities throughout the Western United States, inlcuidng in Washington, Oregon, California and Idaho.