Apple Hospitality REIT Acquires the AC Hotel by Marriott Washington DC Convention Center for $116.8M

Apple Hospitality REIT, Inc. | March 27, 2024

RICHMOND, Va.--Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of the 234-room AC Hotel by Marriott Washington DC Convention Center (the “Hotel”) for approximately $116.8 million, or $499,000 per key. “We are pleased to expand our portfolio with the acquisition of the AC Hotel Washington DC Convention Center and are thrilled to establish a presence in downtown Washington, D.C., a market we have tracked and wanted to have a presence in for some time,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “With a wide variety of dema...