Apple Hospitality REIT Completes Acquisition of Residence Inn by Marriott Seattle South/Renton for $55.5M

Apple Hospitality REIT, Inc. | October 23, 2023

RICHMOND, Va.--Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced that it has completed the acquisition of the 146-room Residence Inn by Marriott Seattle South/Renton (the “Hotel”) for approximately $55.5 million, or $380,000 per key. “We are pleased to further diversify and enhance our portfolio with the acquisition of this recently-built, extended-stay hotel in Renton,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “Renton is well known for its strong business environment that spans aviation, aerospace, manufacturing, technology, life scien...