Apple Hospitality Acquires Courtyard by Marriott in San Diego, CA for $56 Million

Apple Hospitality REIT, Inc. | September 3, 2015

RICHMOND, Va.--September 3, 2015--Apple Hospitality REIT, Inc. (NYSE: APLE) ("Apple Hospitality" or the "Company") today announced that it has closed on the previously announced acquisition of a 245-room Courtyard® by Marriott® in San Diego, CA for a purchase price of $56 million, or approximately $229,000 per key. "We are pleased to add the recently renovated Courtyard San Diego Central to our portfolio of upscale hotels and increase our presence in the dynamic San Diego market," said Nelson Knight, Executive Vice President and Chief Investment Officer for Apple Hospitality REIT. "San Diego's economy is diversified across numerous le...