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Apple Hospitality REIT acquires two Marriott hotels for $85m
Transactions - OCTOBER 27, 2022

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Apple Hospitality REIT acquires two Marriott hotels for $85m

by Released

Apple Hospitality REIT has acquired the AC Hotel by Marriott Louisville Downtown for $51 million, or approximately $327,000 per key, and the AC Hotel by Marriott Pittsburgh Downtown for $34 million, or approximately $254,000 per key.

“We are pleased to enhance our portfolio with these attractive acquisitions that highlight the strength of our relationships with best-in-class hotel owner-operators and our ability to drive value in a highly competitive marketplace,” said Nelson Knight, president, real estate and investments of Apple Hospitality. “These thoughtfully designed hotels offer guests modern accommodations, comfortable meeting spaces and distinctive lounge areas, and are well positioned within their markets to benefit from a variety of business and leisure demand generators. We continue to actively explore additional opportunities, like these, that will optimize our portfolio in ways that will elevate our future performance and maximize long-term value for our sh

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