RICHMOND, Va.–July 17, 2015–Apple Hospitality REIT, Inc. (NYSE: APLE) (“Apple Hospitality” or the “Company”) today announced that it recently completed the acquisition of three hotels: a Hampton Inn® in Ft. Lauderdale, FL; a Hampton Inn® in Cypress, CA; and a SpringHill Suites® by Marriott® in Burbank, CA.
The Company closed on the acquisition of the 156-room Hampton Inn® in the Las Olas area of downtown Ft. Lauderdale, FL, on June 23, 2015, for a purchase price of approximately $23 million. The property, convenient to Port Everglades and the Ft. Lauderdale-Hollywood International Airport, is located in the heart of downtown Ft. Lauderdale near multiple guest attractions and amenities.
Effective June 29, 2015, the Company acquired a 110-room Hampton Inn® in Cypress, CA, for approximately $20 million. The property is located two miles from downtown Cypress, convenient to a variety of national and international corporate headquarters and less than seven miles from Disneyland® Park.
The Company also purchased a new 170-room SpringHill Suites® by Marriott® in Burbank, CA, effective July 13, 2015, for a purchase price of approximately $60 million. The boutique-style hotel is located within walking distance of downtown Burbank and convenient to the numerous attractions in the Hollywood area.
