Watergate complex to Nixon's resignation on August 9, 1974. The name "Watergate" and the suffix "-gate" have since become synonymous with political scandals in the United States and elsewhere. The Watergate superblock is bounded on the north by Virginia Avenue, on the east by New Hampshire Avenue, on the south by F Street, and on the west by the Rock Creek and Potomac Parkway. It is in the Foggy Bottom neighborhood overlooking the Potomac River, next to the Kennedy Center and the embassy of Saudi Arabia. The nearest Metro station, 0.4 miles (650 m) distant, is Foggy Bottom-GWU. For more than a
Watergate complex five buildings in the Watergate development. Management and ownership of the hotel have changed several times since the mid-1980s. In 1986, Cunard Line, the cruise ship company, took over management of the hotel and began redecorating and refurbishing it. The British Coal Board pension fund sold the hotel portion of the building to a British-Japanese consortium in 1990 for $48 million. Blackstone Real Estate Advisors, the real estate affiliate of the Blackstone Group, bought the hotel for $39 million in July 1998. For a few years in the late 1990s and early 2000s (decade), the Watergate Hotel was operated by