Apple Hospitality REIT Acquires the AC Hotel by Marriott Washington DC Convention Center
Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of the 234-room AC Hotel by Marriott Washington DC Convention Center (the “Hotel”) for approximately $116.8 million, or $499,000 per key.
- Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced the acquisition of the 234-room AC Hotel by Marriott Washington DC Convention Center (the “Hotel”) for approximately $116.8 million, or $499,000 per key.
- “We are pleased to expand our portfolio with the acquisition of the AC Hotel Washington DC Convention Center and are thrilled to establish a presence in downtown Washington, D.C., a market we have tracked and wanted to have a presence in for some time,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality.
- As we look for and continue to underwrite acquisition opportunities, we are dedicated to pursuing transactions that meaningfully enhance our portfolio and maximize long-term value for our shareholders.”
The AC Hotel Washington DC Convention Center opened in October 2020 and is located at 601 K Street NW, Washington, D.C. - Following the acquisition of the AC Hotel Washington DC Convention Center, the Apple Hospitality hotel portfolio includes 224 hotels with 29,886 guest rooms geographically diversified throughout 37 states and the District of Columbia.