Apple Hospitality REIT, Inc. (NYSE: APLE) today announced the acquisition of the 234-room AC Hotel by Marriott Washington DC Convention Center for approximately $116.8 million, or $499,000 per key.
CGI Merchant Group, LLC (CGI yesterday announced its acquisition of the lease to the historic Old Post Office building in Washington, D.C. Located at 1100 Pennsylvania Avenue, the iconic property opened in 1899 as Washington, D.C.’s main post office, later converted to a federal office building and more recently became a hotel
Noble Investment Group today announced the acquisition of the 162-room Hampton Inn & Suites National Landing and the 248-room Hilton Garden Inn National Landing.
The former Washington Court Hotel joins the Hilton Hotels & Resorts brand portfolio as Hilton Washington D.C. Capitol Hill, offering both guests and locals a sleek and contemporary escape in the center of D.C.
The sale price of $42.0 million reflects a 17.4x EBITDA multiple and a 5.0% net operating income capitalization rate based on the hotel’s operating performance for 2018.
The contracted sale price reflects a 17.4x EBITDA multiple and a 5.0% net operating income capitalization rate based on the hotel’s operating performance for 2018.
The sale price of $141.5 million reflects a 14.9x EBITDA multiple and a 5.9% net operating income capitalization rate (after an assumed annual capital reserve of 4.0% of total hotel revenues) based on the hotel’s operating performance for 2018.
Pebblebrook Hotel Trust (NYSE: PEB) yesterday announced that it has closed on the sale of the 343-room, Liaison Capitol Hill in Washington, D.C. for $111.0 million.
Xenia Hotels & Resorts, Inc. (NYSE: XHR) today announced it has sold the 300-room Hilton Garden Inn Washington D.C. Downtown for $128 million, or approximately $427,000 per key.
Noble Investment Group today announced the acquisition of the 191-room Westin Reston Heights located in Reston, Virginia. The hotel will undergo a comprehensive guest room and public area upgrade and renovation.