VSM has been awarded the opportunity to develop a 10-story, 167 guestroom select service extended stay Westin Element Hotel located in the University of Maryland’s BioPark in Baltimore, Maryland. The hotel will be operated by Interstate Hotels & Resorts (“IHR”).
The proposed 98,079 sf Element Hotel will be uniquely located on a 21,292 sf parcel in the geographic center of the University of Maryland’s BioPark. This site is situated between 655,000 sf of fully leased Class A office, an existing/usable parking garage, The University of Maryland Medical Center (“UMMC”), and the 200,000 sf University of Maryland Proton Treatment Center (“MPTC” or “Proton Center”), which is currently under construction and expected to be operational by October 2015.
Due to the Property’s association with the UMMC (the largest trauma, research and training hospital in the State of Maryland), combined with its unique location within the BioPark (immediately adjacent to the MPTC in which approximately 80.0% of its patients originate from over 100 miles away and receive treatment for 5-8 week periods), the Project is expected to secure the majority of its demand from its immediate submarket. Additionally, the Property is within walking distance of the Maryland Law & Business School, University of Maryland Graduate Business School, Baltimore Convention Center, and M&T Bank Stadium (home of the Baltimore Ravens).
Further, the strength of the Westin Element brand combined with Starwood’s under representation within the Baltimore market (two licensed Sheraton’s), and strength of the Starwood Reservation System and Preferred Guest Loyalty Program will enable the property to favorably compete against select-service competitors within the Baltimore market.
The element by Westin portion of the Property will offer the following facilities and services:
- 10 Stories, 167 extended stay guest rooms (containing kitchenette and work space area) with a 33% lock-off flexibility
- Approximately 2,500 sf Lobby or Living-Room Area that provides access to check-in, Business Center, and Concierge Service
- Approximately 3,520 sf of Meeting and Pre-function space;
- Approximately 1,500 sf of Outdoor Patio Space including Pool and 750 sf Fitness Facility
- LEED Certified Design
- Adjacent to Available Structured Parking
- Access to Starwood’s Reservation System and Preferred Guest Loyalty Program
- Access to proximate 20,000 sf fitness and swimming facility at University of Maryland
- Access to University of Maryland’s comprehensive Wellness Program