Apple Hospitality Expands Portfolio

The firm acquired two Hampton Inn & Suites by Hilton, one in Atlanta and one in Memphis, Tenn. for $63 million.
peabody place
Hampton Inn & Suites by Hilton Memphis-Beale Street

Apple Hospitality REIT has acquired the Hampton Inn & Suites by Hilton Atlanta-Downtown and the Hampton Inn & Suites by Hilton Memphis-Beale Street for a total of $63 million. 

Located at 161 Ted Turner Drive NW in Atlanta, the 119-key Hampton Inn & Suites by Hilton Atlanta-Downtown offers a business center, fitness room, free Wi-Fi and a 648-square-foot meeting space. Nearby attractions include Dr. Martin Luther King, Jr.’s childhood home, the Fox Theatre, Carter Center and Presidential Library, High Museum of Art, Fernbank Science Center and Georgia Aquarium. 

Located at 175 Peabody Place in Memphis, Tenn., the 144-key Hampton Inn & Suites by Hilton Memphis-Beale Street features a pool, fitness center, business center, snack shop and 624-square-foot meeting space. Nearby attractions include the Beale Street Entertainment District, FedExForum, AutoZone Park, the Memphis Cook Convention Center, the Orpheum Theatre, the National Civil Rights Museum and Graceland.

“Memphis and Atlanta are dynamic cities with tremendous appeal for both business and leisure travelers, and we are pleased to strengthen our presence within each market,” said Nelson Knight, executive vice president & CIO of Apple Hospitality REIT, in prepared remarks. “Each of these hotels is well located within the business district and in close proximity to a multitude of amenities and attractions including restaurants, shops, museums and entertainment venues.” 

With the addition of these acquisitions, Apple Hospitality’s portfolio now includes 241 hotels, totaling more than 30,500 keys across 34 states. Last October, the REIT acquired two Residence Inn by Marriott Hotels for $81 million, located in Salt Lake City and Portland, Maine.

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