embassy suites napa valley
RLJ Lodging Trust Completes Sale of 205-Room Embassy Suites Napa Valley for $102 Million ($498K Per Key)
RLJ | July 16, 2018
BETHESDA, Md.--RLJ Lodging Trust (the "Company") (NYSE: RLJ) today announced that the Company has closed on the sale of the 205-room Embassy Suites Napa Valley ("Embassy Suites Napa") for $102.0 million or approximately $498,000 per key. "The sale of the Embassy Suites Napa is another example of how we seek to unlock shareholder value through both non-core and opportunistic sales," commented Ross H. Bierkan, President and Chief Executive Officer. "The premium multiple on this sale is indicative of the strong investor appetite for properties in resort-like locations, which allowed us to capture the embedded redevelopment value in this as...