Apple Hospitality in Richmond acquires three new hotels
Apple Hospitality REIT Inc. in Richmond recently completed the acquisition of three out-of-state hotels. The transactions, which totaled more than $100 million, boosted the company’s portfolio of hotel properties to 174, with 22,177 guestrooms in 32 states.
The new properties are:
A 156-room Hampton Inn in the Las Olas area of downtown Fort Lauderdale, Fla. Purchase price: about $23 million. The property is near the Fort Lauderdale-Hollywood International Airport.
A 110-room Hampton Inn in Cypress, Calif., located two miles from downtown Cypress and less than seven miles from Disneyland Park. Purchase price: about $20 million.
A new 170-room SpringHill Suites by Marriott in Burbank, Calif., located within walking distance of downtown Burbank and other attractions in the Hollywood area. Purchase price: about $60 million.
Apple Hospitality REIT is a publicly traded real estate investment trust (REIT) that owns one of the largest portfolios of upscale, select service hotels in the U.S. The company went public on May 18 and is listed on the New York Stock Exchange under the ticker symbol of APLE.