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DC’s closed Hotel Rouge will reopen as the Banneker Hotel

D.C.’s Kimpton-run Hotel Rouge, sold to new owners last fall and in the middle of a $20 million renovation, will reopen in early-2021 as the Kimpton Banneker Hotel.

The name is a nod to Benjamin Banneker, who played a significant role in surveying the land that would become the nation’s capital, specifically the Meridian Line, which is 16th Street NW today, where the hotel is located.

The 10-story hotel, at 1315 16th Street NW, will reopen with 144 rooms, including a three-bedroom presidential suite, a rooftop bar, Lady Bird, named after Lady Bird Johnson, with White House and Washington Monument views, and a French bistro restaurant called Le Sel.

It will also include 3,800 square feet of indoor and outdoor meeting space.

Memphis-based Kemmons Wilson Hospitality Partners and Atlanta-based Valor Hospitality acquired the Rouge from Bethesda-based Pebblebrook Hospitality Trust in September 2019 for $42 million.

It is the first investment in D.C. for Kemmons and Valor.

Other previously Kimpton-branded hotels in D.C. have opened under new management and ownership in recent months.

The former Mason and Rook Hotel at 1430 Rhode Island Avenue NW reopened in August as the Viceroy Washington D.C., by Hollywood, California-based Viceroy Hotels & Resorts, which also reopened the former Hotel Donovan at 1155 14th Street NW as Hotel Zena in October.

The Kimpton Palomar, in Dupont Circle, will also become the Royal Sonesta Washington, D.C., managed by Sonesta International Hotels after a recent ownership change.

Shares fall in Asia, with Kospi down 5.2%, while oil prices jump

BANGKOK (AP) — Shares slipped Wednesday in Asia after Wall Street pulled further from its all-time high as artificial-intelligence stocks resumed their decline. South Korea’s Kospi led the regional retreat, dropping 5.2% to 6,515.97. The two biggest companies benefiting from the AI boom tracked losses for their U.S. rivals. Samsung Electronics shed 6.9%, while memory chipmaker SK Hynix tumbled 7.9%. In Tokyo, the Nikkei 225 sank 2.6% to 65,703.78. The Hang Seng in Hong Kong lost 0.4% to 25,382.66, while the Shanghai Composite index shed 1.5% to 3,927.70. Taiwan's Taiex fell 1.4%, and Australia's S&P/ASX 200 slipped 0.4% to 9,083.70. Apart from renewed jitters over criticism that AI-related stocks have shot too high, rising oil prices also were clouding market sentiment.
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