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June 24, 2024
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Lighthouse Investments Buys 120-Key Hotel in Seattle


Beverly Hills-based Lighthouse Investments recently acquired the full-service, luxury Hotel 1000, a 120-key hotel located at 1000 First Ave in downtown Seattle. The price was not disclosed.

Completed in 2006, the property is located at the corner of First Ave and Madison St between Pioneer Square and Pike Place Market, with easy access to the newly expanded Coleman Ferry Dock, Pike Place Market and Waterfront Park.

Chris Burdett, Matthew Behrens and Jordan Caudill represented the seller, Loews Hotels & Co, out of New York City, in the transaction.

“This sale of Hotel 1000 marks the first institutional hotel transaction in downtown Seattle since the onset of COVID-19,” said Burdett. “It points to the resilient nature of the region’s hotel sector and the continued interest in Seattle as one of the top MSAs in the country.”

According to CBRE Research, Seattle’s hotel occupancy is expected to reach 59.9% in 2022 and climb to 71.2% in 2023. The region’s hotel market is projected to reach full recovery in 2024, with forecasted average daily room rates (ADR) and revenue per available room (RevPAR), expected to both surpass 2019 levels.

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