Hotel Online
News for the Hospitality Executive


advertisement
 

Chesapeake Lodging Trust Completes Acquisition of the 613-room
Denver Marriott City Center in Denver, Colorado

ANNAPOLIS, Md., Oct 03, 2011 --Chesapeake Lodging Trust (NYSE: CHSP) announced today that it has closed on the previously announced acquisition of the 613-room Denver Marriott City Center located in Denver, Colorado for a purchase price of $119 million, or approximately $194,000 per key. The Trust funded the acquisition with available cash on hand and by borrowing under its revolving credit facility. The Trust also assumed the existing management agreement under which Marriott International, Inc. will continue to operate the hotel.

ABOUT CHESAPEAKE LODGING TRUST
Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service and extended-stay hotels in urban settings or unique locations in the United States. The Trust owns 11 hotels with an aggregate of 3,390 rooms in five states and the District of Columbia. Additional information can be found on the Trust's website at www.chesapeakelodgingtrust.com.

.
Contact: 

Chesapeake Lodging Trust
Douglas W. Vicari
410-972-4142

 


Receive Your Hospitality Industry Headlines via Email for Free! Subscribe Here

 
To Learn More About Your News Being Published on Hotel-Online Inquire Here

 
Also See: Chesapeake Lodging Trust Enters Agreement to Acquire the 613-room Denver Marriott City Center in Denver, Colorado for $119 million, or Approximately $194,000 Per Key / August 2011

Chesapeake Lodging Trust Acquires the 171-room Hotel Adagio in San Francisco for $42.25 million; Management of Property to Remain with Joie de Vivre Hospitality / July 2011

Chesapeake Lodging Trust Acquires 204-room Courtyard Washington Capitol Hill/Navy Yard in Washington, DC for $68 Million or About $333,000 per Key / July 2011

IHG Sells 210-room Hotel Indigo San Diego to Chesapeake Lodging Trust for $55.5 Million / June 2011

Chesapeake Lodging Trust Acquires Homewood Suites Seattle Convention Center for $53 million, or Approximately $272,000 per key / May 2011

Chesapeake Lodging Trust Announces a Definitive Agreement to Acquire the 195-room Homewood Suites by Hilton Seattle Convention Center for $53 million or Approximately $272,000 per key / November 2010

Chesapeake Lodging Trust Acquires the 153-room Courtyard Anaheim at Disneyland Resort in Anaheim, California for $25.0 million ($163,000 per key) and the 430-room Boston Marriott Newton in Newton, Massachusetts for $77.25 million ($180,000 per key) / August 2010

Chesapeake Lodging Trust Acquires the 498-room Hyatt Regency Boston for $112 million, or Approximately $225,000 per Key; Hyatt Continues as Operator /March 2010
..
To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch

Home | Welcome | Hospitality News
| Industry Resources

Please contact Hotel.Online with your comments and suggestions.