Apple Hospitality REIT acquires Courtyard by Marriott and Hyatt House in Downtown Salt Lake City
Apple Hospitality REIT 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.
The Courtyard Salt Lake City Downtown is located at 345 West 100 South in Salt Lake City, and the Hyatt House Salt Lake City/Downtown is located at 140 South 300 West. The Courtyard opened in October 2015, and the Hyatt House, which recently underwent a full soft-goods renovation, opened in January 2015. The hotels sit adjacent to one another and are located directly across the street from the Delta Center, within walking distance of Salt Palace Convention Center, and convenient to Temple Square, Utah State Capitol, the University of Utah, Salt Lake City International Airport, num