Memphis Marriott East Hotel

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  • Ashford Hospitality Trust Buys Memphis Marriott East Hotel for $43.5M

    By Liviu Oltean, Associate Editor Ashford Hospitality Trust Inc. signed a definitive agreement to purchase the 232-room Memphis Marriott East Hotel for $43.5 million or $187,500 per room. According to an official statement, the acquisition price represents a trailing 12-month cap rate of 7.6 percent on net operating income. “This transaction was particularly attractive given [...]

    South 28 January 2015 17:50

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