Electra America Hospitality Group (EAHG), a joint venture between Electra America and AKA targeting the acquisition and repositioning of underperforming hotels in gateway markets, has purchased a 178-key hotel in the heart of Old Town Alexandria, Va. — a hotel that was once a part of the Old Colony Inn — for an undisclosed amount. EAHG also has acquired the 193-room Roger New York in Midtown Manhattan from Pebblebrook Hotel Trust.
EAHG will invest roughly $36 million in the renovation of the Alexandria hotel, and $22 million in upgrades to Roger New York. EAHG has engaged a world-renowned architectural team in the renovation/design. Both hotels will reopen in 2022 under the AKA brand, offering a mix of short-term and extended-stay lodging options catering to the upscale leisure and corporate traveler.
EAHG expressed confidence in the full recovery of the hotel industry in both markets. “In New York City, many hotels have permanently closed and there’s been a fu
