Bethesda Maryland is the home to several large corporations, including GEICO, Marriott, Lockheed Martin, Ritz-Carleton Hotels, Host Hotels, and the Cystic Fibrosis Foundation. NIH and the Walter Reed Hospital also call Bethesda home.
Condor Hospitality Trust, Inc. is a hotel-focused real estate investment trust (REIT) which joined these corporations in Bethesda effective May 26, 2016, as it changed its corporate headquarters from Norfolk, Nebraska. Condor Hospitality Trust, Inc. specializes in the investment and ownership of upper midscale and upscale, premium-branded select-service, extended stay and limited-service hotels. The company currently owns 34 hotels in 16 states. Condor’s hotels are franchised by a number of brand families including Hilton, Marriott, InterContinental Hotels Group, Choice and Wyndham.
Condor Hospitality decided to move its corporate headquarters to Bethesda Maryland in response to the attraction of major hotel companies and financing sources. “A small publicly traded company looking to grow needs access to investment bankers and research analysts,” said Chief Executive Bill Blackham. “When they come to visit other REITs and hotel companies, it makes it infinitely easier to having meetings with people who are coming to Washington, D.C.”
The shift, announced Thursday, will not reduce or change the duties of Condor’s seven-person staff in Norfolk or the five-person staff in Omaha, CEO Blackham said. The Nebraska staff will continue to handle accounting, hotel management oversight, investor and public relations, legal work and other functions.
We at the Lise Howe Group would like to welcome the employees of Condor Hospitality to Bethesda! If you are looking for a new home to go along with your corporate headquarters, just give the Lise Howe Group a call at 240-401-5577 or email us at lise@lisehowe.com. If you want more information about homes for sale in downtown Bethesda, just click here!