Apple Hospitality Acquires Two Marriot Hotels
ByApple Hospitality REIT Inc. has acquired two Residence Inn by Marriott Hotels for $81 million. The REIT bought the 179-key Residence Inn by Marriott Portland Downtown/Waterfront for $55.8 million, $311,500 per key and the 136-key Residence Inn by Marriott Salt Lake City Murray for $25.5 million, or $187,500 per key.
Located at 145 Fore St., in Portland, Maine, Residence Inn by Marriott Portland Downtown/Waterfront offers convenient access to Portland’s Historic Old Port District and to various restaurants, shopping and entertainment venues such as Lincoln Park, Big Apple Store, Portland Science Center, Trader Joe’s and Whole Foods Market. Additionally, the property is only a 13-minute walking distance from the beach. The pet-friendly hotel offers common area amenities such as laundry on-site, grocery shopping service, barbecue/picnic area, indoor pool, whirl pool and fitness center…
