Apple Hospitality REIT Acquires AC Hotel by Marriott in Portland, Maine for $66.8M

Apple Hospitality REIT, Inc. | August 24, 2021

RICHMOND, Va. - August 24, 2021 - Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of the 178-room AC Hotel by Marriott in Portland, Maine (the “Hotel”), for a total purchase price of approximately $66.8 million, or approximately $375,000 per key.   “We are pleased to expand our presence in the vibrant Portland market, which benefits from a variety of demand generators, including leisure, corporate, health care, government and education,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “With the acquisition of the AC Hot...