Washington, D.C. -- The George Washington University announced today that it has purchased One Washington Circle Hotel from Starwood Hotels & Resorts Worldwide, Inc.  The University will maintain the status of the property as a hotel for investment purposes.

"This is an important investment opportunity for the University, one that will allow us to generate revenue to continue to support our educational mission," said GW president Stephen Joel Trachtenberg.  "The University also looks forward to fulfilling the hotel's mission of providing guests with top-quality service and a welcoming gateway to historic Foggy Bottom and the sites of Washington."

The University has engaged Potomac Hospitality Services (PHS) to manage the 151-unit, West End hotel.  PHS has provided similar services in the past for guests at the hotel.  The University assumed ownership of the One Washington Circle Hotel earlier today.  This is the second hotel property owned by The George Washington University, which purchased The George Washington University Inn (formerly known as The Inn at Foggy Bottom) in 1994.