Three Hotels are Acquired by Apple Hospitality REIT

  • Apple Hospitality REIT, Inc.
  • 07.17.15
Three hotels have been added to the Apple Hospitality portfolio.

Apple Hospitality REIT, Inc. (NYSE: APLE), announced that it recently completed the acquisition of three hotels: a Hampton Inn in Ft. Lauderdale, Fla.; a Hampton Inn in Cypress, Calif.; and a SpringHill Suites by Marriott in Burbank, Calif.

The company closed on the acquisition of the 156-room Hampton Inn in the Las Olas area of downtown Ft. Lauderdale, 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, Apple Hospitality acquired a 110-room Hampton Inn in Cypress, Calif, 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.

Apple Hospitality also purchased a new 170-room SpringHill Suites by Marriott in Burbank, Calif., 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.



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