Apple Hospitality REIT Acquires Hampton Inn & Suites by Hilton Downtown St. Paul $31.7 million, or Approximately $198,000 Per Key

Apple Hospitality REIT, Inc. | March 5, 2019

RICHMOND, Va. -- Apple Hospitality REIT, Inc. (NYSE: APLE) (the "Company" or "Apple Hospitality") today announced the acquisition of the 160-room Hampton Inn & Suites by Hilton Downtown St. Paul (the "Hotel") for a purchase price of $31.7 million, or approximately $198,000 per key. "The Hampton Inn & Suites is ideally located in downtown St. Paul and benefits from the area's wide variety of corporate, leisure and healthcare demand generators," said Nelson Knight, Executive Vice President and Chief Investment Officer of Apple Hospitality. "St. Paul is a vibrant city with a diversified economy, home to numerous corporate offices i...