An affiliate of Atlanta-based Songy Highroads, LLC has purchased the Hyatt Fairfax at Fair Lakes, a full-service hotel located in Fairfax.
The 14-story hotel was constructed in 1989 and contains 316 rooms. It features 9,000 square feet of meeting space, which includes a 4,140-square-foot ballroom. The NoVa Grill and NoVa Bar provide dining options throughout the day and evening. Additional amenities include a 24-hour fitness center, a heated indoor pool, jogging trails, the NoVa Market convenience store and an expansive patio that can host outdoor events.
“The hotel offers a great location in the middle of an active office and commercial district and less than a half-hour from our nation’s capital,” said Todd Nocerini, chief operating officer of Songy Highroads. “Combine that with our near-term plans to upgrade the property to the Hyatt Regency flag, and you have a desirable value-add purchase.”
Near-term plans call for a $14 million renovation of the property. Upgrades will include updating the pool and fitness center, upgrading rooms and corridors to Hyatt Regency standards and converting 30-60 of the guestrooms into extended stay rooms in an effort to attract more weekend and business travelers. Future improvements could include enhancing the hotel entrance and adding new meeting space. Songy Highroads hired Ambridge Hospitality to manage the hotel.
“We are excited to once again partner with Songy Highroads” said Dave Johnson, President and CEO of Aimbridge Hospitality. “We look forward to instilling our strong service culture and see upside in this vibrant Northern Virginia market. Our experienced and responsive team with contribute meaningfully to the success of this exceptional asset.”
Songy Highroads is a very active owner and developer of Hyatt brand hotels. This month, the company opened a new Hyatt Regency hotel near The Galleria shopping center in Houston. It also is developing a new Hyatt Place adjacent to the Hyatt Regency Houston Galleria that will open in early 2016. This past summer, Songy Highroads sold the Hyatt Place D.C./Downtown/K Street located in Washington, D.C., following a two-year conversion of the property from an office building into a hotel.