This roundup features the latest hotel transactions in the U.S. hotel industry.
Hilton Boston Back Bay
Rooms: 390
Location: Boston
Price, Including Debt: $171 million
Price Per Room: $438,000
Buyer: Certares Management
Seller: Ashford Hospitality Trust
Date of Transaction: April 10, 2024
Takeaway: Proceeds of the sale will be used for debt reduction.
The Scottsdale Plaza Resort
Rooms: 404
Location: Scottsdale, Arizona
Price, Including Debt: $124.3 million
Price Per Room: $307,673
Buyer: Trinity Investments
Seller: Highgate Hotels
Date of Transaction: April 9, 2024
Takeaway: Trinity will execute a targeted capital plan on the property to enhance the resort experience, better cater to large groups and leisure travelers. The resort will remain unencumbered by a brand and will continue to be managed by Highgate.
AC Hotel by Marriott Washington DC Convention Center
Rooms: 234
Location: Washington, DC
Price, Including Debt: $116.8 million
Price Per Room: $499,000
Buyer: Apple Hospitality REIT
Seller: N/A
Date of Transaction: March 27, 2024
Takeaway: The hotel is situated one block from them Walter E. Washington Convention Center and close to attractions such as Capital One Arena, the U.S. Capitol Complex, museums and historical monuments and memorials.
Hampton Inn & Suites National Harbor/Alexandria Area
Rooms: 154
Location: Oxon Hill, Maryland
Price, Including Debt: $47 million
Price Per Room: $305,195
Buyer: SAK Developers
Seller: BRE Hotels & Resorts
Date of Transaction: March 8, 2024
Takeaway: JLL worked on behalf of the seller and procured the buyer.