Unconventional thinking,
new hospitality partnerships
Grand Re-Opening and Ribbon Cutting for the BW Premier Rockville Hotel & Suites
In conversation with Jeffrey Wilder, owner, BW Premier Rockville Hotel & Suites
Meet the Montgomery County hotel that is investing in the future and helping to spur recovery in the tourism industry in partnership with PM Hotel Group.
Since 1985, this location has been a family-owned business and was recently approved to become the first metro-DC area BW Premier Hotel & Suites, the most upscale offering in their portfolio. However, the conversion was dependent upon completely modernizing the hotel.
How did the pandemic affect your plans for the hotel modernization?
When the pandemic hit, we lost our project modernization loan commitment from our lender and faced a $5.5M renovation cost when no bank was willing to lend to a hotel. Without the hotel modernization, we would have lost the opportunity to upgrade our hotel to Premier level standards, including HVAC and plumbing systems upgrades to make the building more energy efficient.
The capital gap that the C-PACE loan provided was crucial to our ability to finance the full renovation—we could not have done the project without them.
How were you able to stay on track?
Through MCEDC, we learned about the C-PACE program, which provides financing to property owners willing to invest in utility-saving upgrades. We executed a loan through local organization Greenworks Lending. As roughly half of the project cost included these types of upgrades, we applied for and received a C-PACE loan to bolster the personal investments we made to complete the project.
Jeff & Rita Wilder celebrate the grand reopening with MCEDC, REDI, Greater Rockville Chamber of Commerce, & Visit Montgomery
WHAT CHANGES HAVE BEEN IMPLEMENTED FOR THE HOTEL?
One of the first decisions was to change the hotel management company and bring in Chevy Chase-based PM Hotel Group to oversee the complete renovation and assume long-term operational supervision of the hotel. The combination of our family’s commitment to investing in the hotel, and PM Hotel Group’s ability to offer outstanding professional management has proved transformative. A reopening ceremony was held on May 15, 2023, to celebrate the hotel’s 164 units and over 4,200 sq ft of meeting and banquet facilities.
Modernization includes a new HVAC system with 24/7 energy-efficient heating and A/C with a state-of-the-art fresh air circulation system; renovation and upgrade of the hotel’s lobby, guest rooms and suites; and a new bar/bistro concept. In addition, the hotel implements industry-leading cleaning and sanitizing standards for hotel guests and staff.
Did you have to close the hotel to accomplish these major upgrades?
No, we were able to keep the hotel open during renovation and our staff employed.
What is C-PACE?
The Commercial Property Assessed Clean Energy Financing (C-PACE) is a Montgomery County, MD program that allows innovative financing for energy efficiency and renewable energy upgrades. It is available for commercial, nonprofit, multifamily and industrial projects.
Ready to Be Next and join our global hospitality landscape? connect@thinkmoco.com.
BW Premier Rockville Hotel & Suites and PM Hotel Group are part of the vibrant hospitality & tourism community of Montgomery County.
Learn more about BW Premier Rockville Hotel & Suites, or plan your next visit to MoCo. To learn more about PM Hotel Group and the difference local makes, visit the website. To learn more about the C-Pace program, visit the Montgomery County website.