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First Hispanic-Owned Hotel in D.C. Area

Clark Construction Group LLC of Bethesda has committed to build a 218-room Marriott Courtyard hotel in Washington, D.C. This hotel will be the first Hispanic-owned hotel in the District.The hotel scheduled to open in 2009, will be majority-owned by The Finvarb Group, a Hispanic-owned family business from Florida.

The new eight-story hotel is set to include street-level retail stores and an exterior glass elevator which connects to a walkway overpass to the New York Avenue Metrorail station.

With fewer than 1 percent of the hotels in the U.S. owned by Hispanics, the rise of hispanic hotel ownership is expected to rise dramatically over the next ten years.Angela Gonzalez-Rowe, president and founder of the Hispanic Hotel Owners Association states many Hispanic businesspeople are well-versed in commercial real estate but are not familiar with the many additional variables involved in hotel ownership. The nonprofit association is planning its second in a series of three national hotel investment seminars for Latinos next week in San Diego

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