Article from Washington Business Journal: DC to get a Capella Hotel

Georgetown will get a Capella Hotel

Capella Hotels and Resorts, an ultra-upscale hotel development company founded by a former Ritz-Carlton executive, will open its latest property in Georgetown.

Capella, IGC Properties and Castleton Holdings will redevelop an existing five-story building at 1050 31^st Street NW into the Capella Georgetown. Construction is expected to begin in January 2011, with an opening scheduled for January 2012.

The Capella Georgetown will include 48 rooms and suites and a premium restaurant and lounge, as well as a rooftop pool, bar and spa.

The 47-year-old building housed the American Trial Lawyers Association until 2008. Castleton bought the property from the association for $18.3 million. ICG became an equal partner earlier this year.

“Washington, D.C., is among the most desirable and resilient markets in the hospitality industry, yet is currently underserved at its uppermost reaches,” said Castleton Holdings President Bruce Bradley in a statement. “We are confident that Capella Hotels and Resorts is the only brand with the right credentials to fill this niche.”

Capella founder, chairman and CEO Horst Shulze spent 19 years with Ritz-Carlton, including serving as its chief operating officer. Shulze said he started Capella on his conviction that as existing five-star brands have sought to broaden their audiences, they have left open an unfilled niche at the upper reaches of luxury travel.

Privately held Capella Hotels and Resorts has already opened six properties, starting with its Schloss Velden, a 17^th century castle in Velden, Austria, in 2007. It also has existing resorts in Dusseldorf, Germany; Ixtapa, Mexico; Telluride, Colo.; Sentosa Island, Singapore and its most recent property in Cabo San Lucas, Mexico, which opened in July 2009.

It has five others under development, including the Georgetown property and new resorts in Mexico, Ireland and Japan.

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