Apple Hospitality REIT Acquires Hampton Inn & Suites by Hilton Atlanta-Downtown and Hampton Inn & Suites by Hilton Memphis-Beale Street

Apple Hospitality REIT, Inc. | February 6, 2018

RICHMOND, Va.-- Apple Hospitality REIT, Inc. (NYSE: APLE) ("Apple Hospitality" or the "Company") today announced that it acquired the 119-room Hampton Inn & Suites by Hilton® Atlanta-Downtown and the 144-room Hampton Inn & Suites by Hilton® Memphis-Beale Street for a combined purchase price of $63 million, or approximately $240,000 per key. "Memphis and Atlanta are dynamic cities with tremendous appeal for both business and leisure travelers, and we are pleased to strengthen our presence within each market," said Nelson Knight, Executive Vice President and Chief Investment Officer of Apple Hospitality REIT. "Each of thes...