Apple Hospitality REIT Acquires 175-Room Courtyard by Marriott and 159-Room Hyatt House in Downtown Salt Lake City

Apple Hospitality REIT | October 12, 2023

RICHMOND, Va. --Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of the 175-room Courtyard by Marriott Salt Lake City Downtown for approximately $48.1 million, or $275,000 per key; the 159-room Hyatt House Salt Lake City/Downtown for approximately $34.3 million, or $215,000 per key; and a corresponding 346-space parking garage for approximately $9.1 million, which serves both hotels as well as the surrounding area. “While overall industry transaction volume remains muted, the strength of our operating performance and our relative liquidity position have provided us w...