residence inn boston cambridge
Residence Inn by Marriott Boston Cambridge Unveils $15 Million Renovation
Residence Inn by Marriott | May 4, 2022
Cambridge, MA – May 4, 2022 – Marriott International, Inc. is pleased to announce that renovations to the Residence Inn by Marriott Boston Cambridge are complete and now offer unique Sensory Suites, aimed at providing children with autism and other disabilities a relaxing stay. The 16-story hotel located at 120 Broadway is proud to unveil its new look after a $15 million-dollar transformation that includes extensive renovations to the guest rooms, guest bathrooms, corridors, fitness center, boardroom, meeting spaces, lobby, entrance and dining area, plus a new-built, full-service lobby bar. The Residence Inn by Marriott Boston Cambridg...
Xenia Hotels & Resorts Sells Residence Inn Boston Cambridge for $107.5 Million
Xenia Hotels & Resorts, Inc. | October 5, 2020
ORLANDO, Fla., Oct. 5, 2020 -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today announced it has sold the 221-room Residence Inn Boston Cambridge in Cambridge, Massachusetts for a price of $107.5 million, or approximately $486,500 per key. The sale price represents a 11.6x multiple and a 7.8% capitalization rate on the hotel's 2019 Hotel EBITDA and net operating income, respectively. In connection with the transaction, the buyer assumed the $60.3 million mortgage collateralized by the hotel. The transaction generated approximately $46.0 million in net proceeds for the Company after transaction costs. P...
