Residence Inn by Marriott Seattle South/Renton
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...
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...
