Apple Hospitality REIT, Inc. (NYSE: APLE) today announced that it acquired the 135-room Home2 Suites by Hilton in Anchorage, Alaska, for a purchase price of approximately $24 million, or $178,000 per key.
“We are pleased to add this extended-stay hotel to our portfolio and increase our presence in the dynamic Anchorage market,” said Nelson Knight, Executive Vice President and Chief Investment Officer of Apple Hospitality REIT. “The hotel is located in midtown Anchorage and benefits from a variety of corporate and leisure demand drivers including nearby corporate offices, large education and healthcare facilities, oil and gas exploration and production, and state parks. This is the fifth hotel we have acquired in the last three months, and like our previous acquisitions, this asset highlights our focus on high-quality, select-service hotels that are well located within strong markets.”
The Home2 Suites by Hilton Anchorage/Midtown is located at 4700 Union Square Drive in Anchorage. The hotel opened in December 2015 and is convenient to Ted Stevens Anchorage International Airport, the University of Alaska Anchorage, the Port of Anchorage, ConocoPhillips Alaska, Providence Alaska Medical Center, Joint Base Elmendorf-Richardson, a variety of corporate offices, and numerous recreational, dining and shopping options.
Following this acquisition, the Apple Hospitality portfolio includes 239 hotels, with approximately 30,300 guest rooms, geographically diversified throughout 34 states.
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. The Company’s portfolio consists of 239 hotels, with approximately 30,300 guest rooms, diversified across the Hilton and Marriott families of brands with locations in urban, high-end suburban and developing markets throughout 34 states.
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