SAG announces the May 1, 2014 opening of The Marriott Marquis Washington DC; the $520 million Washington Convention Center headquarters hotel. The 1,175-room hotel has 100,000 square feet of meeting and assembly space, including a 30,000 square foot grand ballroom, and five separate, publicly accessible retail and restaurant outlets on the ground floor. Located across the street from the Washington Convention Center, the hotel is one of only five Marriott Marquis properties in the country. It is the largest hotel in Washington DC and serves as the centerpiece of continued economic revitalization of the historic Shaw neighborhood.
SAG represented the District of Columbia and the Washington Convention & Sports Authority in the transaction. It took several years to bring the project to fruition. SAG Managing Parter, Jeff Sachs led the transaction. SAG services included land assembly, gaining approval for tax increment financing, bond structuring, developer and operator selection, and contract negotiations. The hotel was financed in 2010.
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