Total $0.00


RICHMOND, Va.--Apple Hospitality REIT, Inc. (NYSE: APLE) (“Apple Hospitality” or the “Company”) today announced that it has closed on the previously announced acquisition of the newly-constructed, dual-branded Hilton Garden Inn® and Home2 Suites by Hilton® property in Birmingham, Alabama, with a combined total of 210 rooms, for a purchase price of approximately $38.4 million, or $183,000 per key.

We are pleased to add this new, unique, dual-branded property to our portfolio of hotels and enter the resurgent downtown Birmingham market,” said Nelson Knight, Executive Vice President and Chief Investment Officer of Apple Hospitality REIT. “Our per-key purchase price for these new hotels in a growing market is very attractive, highlighting the benefits of entering into fixed-price contracts with developers prior to construction. The property is ideally located with great exposure to a wide variety of corporate, medical, academic, government and leisure demand generators.”

The new Hilton Garden Inn® and Home2 Suites by Hilton®, located at 250 18th Street South in Birmingham, Alabama, are situated in the heart of Birmingham’s downtown business district with easy access to the University of Alabama at Birmingham, Children’s of Alabama pediatric hospital, the Birmingham VA Medical Center, Regions Financial Corporation’s headquarters, numerous corporate offices, and a variety of museums, restaurants and entertainment venues. According to data provided by Smith Travel Research (STR) for the seven-month period ending July 31, 2017, RevPAR for the Birmingham, Alabama market improved by more than seven percent, as compared to the same period of 2016.

Following this acquisition, the Apple Hospitality portfolio includes 237 hotels, with more than 30,000 guestrooms, geographically diversified throughout 33 states. 

About Apple Hospitality REIT, Inc.

Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest portfolios of upscale, select-service hotels in the United States. The Company’s portfolio consists of 237 hotels, with more than 30,000 guestrooms, diversified across the Hilton® and Marriott® families of brands with locations in urban, high-end suburban and developing markets throughout 33 states. For more information, please visit

Contact: Kelly Clarke, Vice President, Investor Relations / 804-727-6321

Related News

Apple Hospitality REIT Completes Top-to-Bottom Renovation of the Hampton Inn & Suites Dallas-Arlington

Manga Hotels Acquires the Hampton Inn & Suites Buffalo Airport

Hotel Capital, LLC Acquires Holiday Inn Market Center in Dallas, Texas

Fulcrum Hospitality LLC Completes Another Hotel Acquisition and Adds to Senior Leadership Team

DiamondRock Acquires the Kimpton Hotel Palomar in Phoenix, AZ for $80 Million, or $331,000 Per Key

McKibbon Hospitality to Manage Hampton Inn & Suites Atlanta-Downtown

CooperWynn Real Estate Completes the Sale of the Iconic Sagebrush Inn & Suites

Apple Hospitality REIT Acquires Home2 Suites by Hilton in Anchorage for $24 Million, or $178,000 Per Key

Hilton Garden Inn Tucson Airport Completes Full Renovation Led by General Manager Robb Blythe

Apple Hospitality REIT Acquires 136-Room Residence Inn by Marriott® Salt Lake City Murray for $25.5 Million

AAM 15 Management Announces Acquisition of Residence Inn by Marriott Burlington Colchester in Colchester, Vermont

Led by General Manager Gregg Wahlers, the Dual Branded Best Western Plus Elk City/Executive Residency by Best Western Debuts in Oklahoma

Summit Hotel Properties Acquires Two Hotels For $60.2 Million

Lingerfelt CommonWealth Acquires Hilton Dual-Branded Hotel in Downtown Jacksonville, Florida

HOS Management/Development's Plan to Develop Dual Branded Home2 Suites and Hilton Garden Inn in Brunswick, GA Approved

Apple Hospitality REIT, Inc. Completes Merger with Apple REIT Ten, Inc. Resulting in a Combined Enterprise Value $5.7 Billion

Apple Hospitality REIT, Inc. Acquires Home2 Suites by Hilton in Atlanta, Georgia for $24.6M/$192K per key

Apple Hospitality REIT Acquires Courtyard and Residence Inn by Marriott in Syracuse, NY for $42 M

Apple Hospitality Acquires Courtyard by Marriott in San Diego, CA for $56 Million

Apple Hospitality REIT, Inc. Acquires Courtyard by Marriott in Burbank, CA for $54 Million

All News »

Please login or register to post a comment.