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RLJ Lodging Trust Acquires Hyatt Place D.C. for $68 Million

RLJ Lodging Trust Acquires Hyatt Place D.C. for $68 Million

WASHINGTON, D.C.—Atlanta-based Songy Highroads, LLC sold the 164-room Hyatt Place D.C./Downtown/K Street located in Washington, D.C., to RLJ Lodging Trust for $68 million. At approximately $415,000 per key, the sale sets a high-water mark for select-service hotels in the Washington, ...

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DiamondRock Hospitality Acquires Key West Sheraton Suites

DiamondRock Hospitality Acquires Key West Sheraton Suites

BETHESDA, Md.—DiamondRock Hospitality Company has announced that it recently acquired the fee simple interest in the 184-suite Sheraton Suites Key West in Key West, Fla., for $94 million (or $511,000 per guest room). The purchase price represents a 12.8 multiple ...

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Deal Roundup: The Latest Sales and Acquisitions

Deal Roundup: The Latest Sales and Acquisitions

On July 10, InterContinental Hotels Group announced it agreed to sell ownership interest in InterContinental Hong Kong to Supreme Key Limited, a consortium of investors advised and managed by Gaw Capital Partners, for $938 million. Supreme Key Limited expects to ...

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Ashford Acquires W Atlanta Downtown for $56.8 Million

Ashford Acquires W Atlanta Downtown for $56.8 Million

Ashford Hospitality Trust has completed the previously-announced acquisition of the 237-room W Atlanta Downtown hotel for total consideration of $56.8 million ($239,000 per key). The purchase price represents an estimated forward 12-month cap rate of 7.2 percent on net operating ...

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