Upon acquisition, DoveHill will begin execution of a major renovation and repositioning of the hotel to significantly elevate its position as one of the leading hotels in the Reston market.
FORT LAUDERDALE, FLA. – DoveHill Capital Management, LLC and Wurzak Hotel Group announce that the combined venture has acquired the Sheraton Reston Hotel, expanding its vertically integrated investment platform. Located at 11810 Sunrise Valley Drive, Reston Virginia, the 298-room hotel marks DoveHill's first investment in the Washington DC region. The full service hotel will be managed by DoveHill's related company Wurzak Hotel Group and is the first in a series of new additions coming to the group's growing portfolio in 2018.
Upon acquisition, DoveHill will begin execution of a major renovation and repositioning of the hotel to significantly elevate its position as one of the leading hotels in the Reston market. The renovation will include a modern update of all the guest bathrooms, a re-imagined lobby, a gastro-pub concept, enhancements to the meeting space and a complete redesign of the building's exterior.
"We are thrilled to expand into the s suburban Washington D.C market. The Sheraton enjoys tremendous benefits associated with its strategic placement between Washington, DC and Washington Dulles International Airport, and we look forward to redeveloping the hotel into one of the top hotels in the region. Our geographic expansion is a result of our continuing effort to seek out value-add opportunities in highly strategic markets throughout the country and provide outsize risk-adjusted returns for our investors," stated Jake Wurzak, DoveHill's Founder and Managing Member.
The Sheraton Hotel is located in the heart of Fairfax County's commercial market, is minutes from a variety of Fortune 500 companies, Federal Government Department Headquarters, a short metro ride away from the nation's capital and minutes from Reston Town Center.
"Our experience, dedication and presence will only further the vast hospitality development in Fairfax County, serving its increasing sectors in software development, telecommunications, homeland security and financial services. With our upcoming improvements to the hotel, we intend to capitalize on the growth in an impactful way," stated Eric Davies, Chief Operating Officer of the Wurzak Hotel Group.
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