Brickman was approached by Starwood Hotels & Resorts Worldwide to purchase the St. Regis Hotel with the additional commitment of long-term renovations and the continuation of Starwood as the hotel manager. Brickman believed the Washington, DC market was deficient of luxury hotels. The business environment of the market was undergoing a significant upswing and there was a dearth of supply of 5-star hotels.

Located two blocks from the White House, St. Regis Hotel presents itself as the most prestigious hotel in the capital. Since Calvin Coolidge cut the ceremonial ribbon, every American president has visited the St. Regis Hotel. Built in the style of an Italian Renaissance Palace, the hotel is luxuriously appointed with European antiques, Louis XVI chandeliers, Palladian windows, and rich damask draperies. The St. Regis Hotel was recently named in Travel + Leisure (US) Top 500 of the World's Best Hotels for 2006.

Brickman will commence a $40 million renovation in the fall of 2006. The Hotel is expected to reopen in the spring of 2007 as a 5-star hotel capable of attracting the most discriminating national and international business and leisure travelers, as well as the world's diplomatic core.