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Orlando company buys Pentagon City Ritz-Carlton for $105M

WASHINGTON — Xenia Hotels & Resorts has acquired the Ritz-Carlton Hotel in Pentagon City for $105 million in cash.

It is the Orlando-based hotel owner’s first purchase of a Ritz-Carlton, but it extends its long-standing relationship with Ritz-Carlton parent company Marriott International.

“We are pleased to add the Ritz-Carlton Pentagon City to our portfolio of high-quality hotels and resorts as we continue to increase our concentration in the luxury and upper upscale segments through the acquisition of our first Ritz-Carlton,” said Marcel Verbaas, president and CEO of Xenia, about the Arlington County, Virginia, purchase.

“The hotel’s excellent location and exposure to a diverse set of demand generators in the Arlington and Washington, D.C. markets, its strong in-place cash flow and our ability to acquire the hotel at an attractive valuation were key considerations in our decision to acquire this outstanding asset,” he said.

The 18-story Pentagon City Ritz has 365 rooms and 19,000 square feet of meeting space.

It recently underwent an $11 million renovation of its guest rooms and club lounge.

The Pentagon City Ritz-Carlton connects directly to the Fashion Centre at Pentagon City. The mall itself recently underwent a $90 million renovation and got a 52,000-square-foot expansion.

Xenia owns 39 hotels, including the Hilton Garden Inn in downtown DC, and the Lorien Hotel & Spa in Alexandria.

Massachusetts court hears arguments in lawsuit alleging Meta designed apps to be addictive to kids

BOSTON (AP) — Massachusetts' highest court heard oral arguments Friday in the state's lawsuit arguing that Meta designed features on Facebook and Instagram to make them addictive to young users. The lawsuit, filed in 2023 by Attorney General Andrea Campbell, alleges that Meta did this to make a profit and that its actions affected hundreds of thousands of teenagers in Massachusetts who use the social media platforms. “We are making claims based only on the tools that Meta has developed because its own research shows they encourage addiction to the platform in a variety of ways,” said State Solicitor David Kravitz, adding that the state's claim has nothing to do the company's algorithms or failure to moderate content. Meta said Friday that it strongly disagrees with the allegations and is “confident the evidence will show our longstanding commitment to supporting young people.” Its attorney, Mark Mosier, argued in court that the lawsuit “would impose liabilities for performing traditional publishing functions” and that its actions are protected by the First Amendment.
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