This roundup features the latest hotel transactions in the U.S. hotel industry.
Courtyard by Marriott Salt Lake City Downtown
Rooms: 175
Location: Salt Lake City, Utah
Price, Including Debt: $48.1 million
Price Per Room: $275,000
Buyer: Apple Hospitality REIT
Seller: N/A
Date of Transaction: Oct. 12, 2023
Takeaway: The hotel is adjacent to the Hyatt House Salt Lake City/Downtown, which Apple REIT also purchased.
Hyatt House Salt Lake City/Downtown
Rooms: 159
Location: Salt Lake City, Utah
Price, Including Debt: $34.3 million
Price Per Room: $215,000
Buyer: Apple Hospitality REIT
Seller: N/A
Date of Transaction: Oct. 12, 2023
Takeaway: The hotel is adjacent to the Courtyard by Marriott Salt Lake City/Downtown. In addition to Apple REIT purchasing these two hotels, it also bought a corresponding 346-space parking garage for $9.1 million, which serves both hotels and surrounding areas.
Residence Inn Marriott, Breckenridge
Rooms: 129
Location: Breckenridge, Colorado
Price, Including Debt: $40.3 million
Price Per Room: $312,660
Buyer: Mission Hill Hospitality
Seller: Dauntless Capital Partners
Date of Transaction: Sept. 14, 2023
Takeaway: According to CoStar data, Mission Hill's acquisition was supported by KSL Capital Partners COTO Co-Invest 1 Fund. Hodges Ward Elliott represented Dauntless in the transaction.
Canopy by Hilton Charlotte Southpark
Rooms: 150
Location: Charlotte, North Carolina
Price, Including Debt: $42.5 million
Price Per Room: $283,333
Buyer: MCR Hotels
Seller: Tara Investments
Date of Transaction: Sept. 12, 2023
Takeaway: According to CoStar data, Tara Investments sold the hotel to MCR to restructure its portfolio by investing in other hotels.
Homewood Suites by Hilton Columbus/OSU
Rooms: 109
Location: Columbus, Ohio
Price, Including Debt: N/A
Price Per Room: N/A
Buyer: Crawford Hoying in partnership with Shaner Hotel Group.
Seller: The Shidler Group
Date of Transactions: Sept. 11, 2023
Takeaway: Terms of the deal were not disclosed. The hotel is 10 minutes from downtown Columbus, Ohio.