Apple Hospitality REIT Acquires Hampton Inn & Suites by Hilton Atlanta-Downtown and Hampton Inn & Suites by Hilton Memphis-Beale Street
Apple Hospitality REIT, Inc. (NYSE: APLE) (“Apple Hospitality” or the “Company”) today announced that it acquired the 119-room Hampton Inn & Suites by Hilton® Atlanta-Downtown and the 144-room Hampton Inn & Suites by Hilton® Memphis-Beale Street for a combined purchase price of $63 million, or approximately $240,000 per key.
“Memphis and Atlanta are dynamic cities with tremendous appeal for both business and leisure travelers, and we are pleased to strengthen our presence within each market,” said Nelson Knight, Executive Vice President and Chief Investment Officer of Apple Hospitality REIT. “Each of these hotels is well located within the business district and in close proximity to a multitude of amenities and attractions including restaurants, shops, museums and entertainment venues.”
The Hampton Inn & Suites by Hilton® Atlanta-Downtown, located at 161 Ted Turner Drive NW in Atlanta, Georgia, is convenient to Centennial Olympic Park, the CNN Center, the World of Coca-Cola, the College Football Hall of Fame, the Georgia Aquarium, Philips Arena, Georgia State University, Georgia Institute of Technology, the Mercedes-Benz Stadium, federal and state government offices, and various corporate headquarters and healthcare facilities. According to data provided by STR for the year ended December 31, 2017, RevPAR for the Atlanta market improved by approximately 4 percent, as compared to the previous year.
The Hampton Inn & Suites by Hilton® Memphis-Beale Street, located at 175 Peabody Place in Memphis, Tennessee, is ideally located in downtown Memphis near numerous corporate offices, healthcare facilities and colleges. The hotel also benefits from a variety of area attractions including the Beale Street Entertainment District, FedExForum, AutoZone Park, the Memphis Cook Convention Center, the Orpheum Theatre, the National Civil Rights Museum and Graceland. According to data provided by STR for the year ended December 31, 2017, RevPAR for the Memphis market improved by approximately 5 percent, as compared to the previous year.
Following these acquisitions, the Apple Hospitality portfolio includes 241 hotels, with more than 30,500 guest rooms, geographically diversified throughout 34 states.
About Apple Hospitality REIT, Inc.
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 241 hotels, with more than 30,500 guest rooms, diversified across the Hilton® and Marriott® families of brands with locations in urban, high-end suburban and developing markets throughout 34 states. For more information, please visit www.applehospitalityreit.com.
Media Contact:
Kelly Clarke
[email protected]
804‐727‐6321
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
