Rockwood Acquires Mayflower Hotel in Washington, DC
First Lodging Asset of Rockwood's Fund VII
GREENWICH, CT, March 14, 2007. Rockwood Capital has acquired the landmark Mayflower Hotel in Washington, DC. from a venture consisting of affiliates of Walton Street Capital LLC, Rockpoint Group, LLC and SCS Advisors, Inc. The hotel is located in the heart of Washington's business district, four blocks from the White House. The Mayflower is a Renaissance Hotel managed by Marriott International.
Built in 1925, The Mayflower is listed on the National Register of Historic Places and has undergone extensive renovations over the last several years (over $20 million since 2004), including upgrades to guest rooms and public and meeting spaces. A 2,000 square foot, state-of-the-art fitness center is scheduled for completion during the second quarter of 2007. Celebrities, royalty and dignitaries from around the world have been guests of The Mayflower, including Queen Elizabeth II, John Wayne and J. Edgar Hoover. In addition, President Truman lived at The Mayflower during the first 90 days of his presidential term.
According to Walter Schmidt, Senior Managing Director of Rockwood Capital, "Being long-term investors in Washington DC, we are delighted to add this to our portfolio." The acquisition is the first lodging asset of Rockwood's Fund VII, a $1.1 billion value-added fund that will focus on hotel, retail, office and residential properties. The Fund closed in December 2006.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
