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Hong Kong investor enters the U.S. hotel market

by Andrea Waitrovich

LaSalle Hotel Properties has sold the Lansdowne Resort in Leesburg, Va., to a Hong Kong–based investor Dejia for $133 million. The acquisition marks the Dejia’s first U.S. hotel investment. Destination Hotels will continue to manage the property. The Lansdowne Resort sits on 476 acres overlooking the Potomac River and features multiple restaurants, 55,000 square feet of meeting space, 45 holes of golf, three tennis courts, five pools, a fitness center and a 12,000-square-foot spa. The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the first quarter of 2017, according to data from STR. Compared with first quarter 2016: Occupancy: +0.9% to 61.1% Average daily rate (ADR): +2.5% to $124.27 Revenue per available room (RevPAR): +3.4% to $75.92 “This was the strongest first quarter on record in each of the performance metrics, but it is important to note

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