Wright Investments identified a poorly marketed, closed asset in the major urban market of Alexandria, VA. The hotel was formerly a Holiday Inn but closed in the summer of 2014 due to a business strategy of the seller unrelated to the operation of the hotel. It was soon to be marketed as a redevelopment opportunity, as the seller had secured zoning entitlements for a 600-room hotel. However, the highest and best use was to continue operating the property by introducing professional management and an aggressive sales effort. Wright was aware that other potential buyers would come to the same conclusion, so a pre-emptive offer was placed and accepted before it could be heavily marketed to the investment community. Wright creatively added 10 additional rooms within the hotel during the $8.4M renovation, increasing the current income and terminal value. The hotel opened in April 2016 and is poised to take advantage of not only the many demand generators but also from continued growth of the immediate area. It also benefits from the compression from Old Town and downtown Washington DC, since the hotel is adjacent to the metro.