Apple Hospitality REIT Acquires the Courtyard by Marriott Cleveland University Circle for $31M

Apple Hospitality REIT, Inc. | July 6, 2023

RICHMOND, Va.--Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of the newly renovated Courtyard by Marriott Cleveland University Circle (the “Hotel”) for $31 million, or approximately $201,000 per key. “We are pleased to grow our portfolio with the acquisition of this custom-designed, recently renovated Courtyard by Marriott in the heart of Cleveland’s University Circle district,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “Cleveland offers a wide variety of demand generators from business and leisure to academic, heal...