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SpringHill Suites by Marriott in Burbank, CA
Apple Hospitality REIT, Inc. (NYSE: APLE) announced that it recently completed the acquisition of three hotels: a Hampton Inn® in Ft. Lauderdale, FL; a Hampton Inn in Cypress, CA; and a SpringHill Suites by Marriott in Burbank, CA.
The Company closed on the acquisition of the 156-room Hampton Inn® in the Las Olas area of downtown Ft. Lauderdale, FL, on June 23, 2015, for a purchase price of approximately $23 million. The property, convenient to Port Everglades and the Ft. Lauderdale-Hollywood International Airport, is located in the heart of downtown Ft. Lauderdale near multiple guest attractions and amenities.
Effective June 29, 2015, the Company acquired a 110-room Hampton Inn® in Cypress, CA, for approximately $20 million. The property is located two miles from downtown Cypress, convenient to a variety of national and international corporate headquarters and less than seven miles from Disneyland® Park.
The Company also purchased a new 170-room SpringHill Suites® by Marriott® in Burbank, CA, effective July 13, 2015, for a purchase price of approximately $60 million. The boutique-style hotel is located within walking distance of downtown Burbank and convenient to the numerous attractions in the Hollywood area.
Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest portfolios of upscale, select service hotels in the United States. As of June 30, 2015, the Company’s portfolio consisted of 174 hotels, with 22,177 guestrooms, diversified across the Hilton® and Marriott® families of brands with locations in urban, high-end suburban and developing markets across 32 states.