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Summit Hotel Properties Completes $164 Million, 4-Hotel Portfolio Acquisition
Summit Hotel Properties | November 28, 2017
AUSTIN, Texas, Nov. 28, 2017 -- Summit Hotel Properties, Inc. (NYSE: INN) (the "Company") today announced that it has completed the acquisition of four hotels with a combined total of 652 guestrooms for an aggregate purchase price of $164 million, or approximately $252,000 per key. The portfolio includes the 207-guestroom Courtyard New Haven at Yale, the 148-guestroom Hilton Garden Inn Boston/Waltham, the 175-guestroom Residence Inn Cleveland Downtown, and the 122-guestroom Homewood Suites by Hilton Tucson/St. Philip's Plaza University. The agreements to acquire the portfolio were previously announced on November 13, 2017....
Summit Hotel Properties to Acquire Four Hotels Totaling 652 Guestrooms for $164 Million, or Approximately $252,000 Per Key
Summit Hotel Properties | November 14, 2017
AUSTIN, Texas, Nov. 14, 2017 -- Summit Hotel Properties, Inc. (NYSE: INN) ("Summit" or the "Company") today announced that it has entered into definitive agreements to acquire four hotels totaling 652 guestrooms for an aggregate purchase price of $164 million, or approximately $252,000 per key. The portfolio includes the 207-guestroom Courtyard New Haven at Yale, the 148-guestroom Hilton Garden Inn Boston/Waltham, the 175-guestroom Residence Inn Cleveland Downtown, and the 122-guestroom Homewood Suites by Hilton Tucson/St. Philip's Plaza University. The aggregate purchase price represents a 12.1x multiple on the ...
