The Park Hyatt Washington hotel in D.C.’s West End neighborhood has been sold for $100 million, or $462,963 per key.

The hotel was owned by an affiliate of the Hyatt Hotels Corp. and sold to a partnership of Westmont Hospitality Group and Thomas Tan, a member of the Bestford Hospitality Group.

Hyatt will continue to manage the hotel, and the new owner plans to put approximately $5.5 million into the 216-room property during the next three years, according to a press release.

The Park Hyatt was built in 1986 and was last renovated in 2006. The hotel is also home to one of the city’s most consistently lauded restaurants, Blue Duck Tavern.