Apple Hospitality Acquires Two Marriot Hotels

Purchased for $81 million, both Residence Inn assets feature a total of 315 keys. The transaction brings the company’s portfolio to 238 hotels, with more than 30,000 keys.

Residence Inn by Marriott Salt Lake City Murray
Residence Inn by Marriott Salt Lake City Murray

Apple Hospitality REIT Inc. has acquired two Residence Inn by Marriott Hotels for $81 million. The REIT bought the 179-key Residence Inn by Marriott Portland Downtown/Waterfront for $55.8 million, $311,500 per key and the 136-key Residence Inn by Marriott Salt Lake City Murray for $25.5 million, or $187,500 per key.

Located at 145 Fore St., in Portland, Maine, Residence Inn by Marriott Portland Downtown/Waterfront offers convenient access to Portland’s Historic Old Port District and to various restaurants, shopping and entertainment venues such as Lincoln Park, Big Apple Store, Portland Science Center, Trader Joe’s and Whole Foods Market. Additionally, the property is only a 13-minute walking distance from the beach. The pet-friendly hotel offers common area amenities such as laundry on-site, grocery shopping service, barbecue/picnic area, indoor pool, whirl pool and fitness center.

Residence Inn by Marriott Salt Lake City Murray is located at 171 E. 5300 S., Murray, Utah, in close proximity to the Salt Lake City International Airport. Common area amenities include limousine service, laundry on-site, barbecue and/or picnic area, fitness center and indoor pool. The property offers convenient access to various local attractions such as Murray Park, Murray Aquatic Center, Alta Ski Resort, Rio Tinto Stadium and Murray Parkway Gold Course.

This transaction brings Apple Hospitality REIT Inc.’s portfolio to 238 hotels, including more than 30,000 keys. Back in February, the company purchased $18 million Courtyard Fort Worth Historic Stockyards, a 124-key hotel in Fort Worth

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