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Apple Hospitality REIT Acquires the Aloft Hotel for USD 51m
Wednesday 15 September 2021

Virginia, US-based real estate investment trust Apple Hospitality REIT, Inc. (NYSE: APLE) has acquired the 157-room Aloft Hotel, located in Portland, Maine for a total purchase price of USD 51.2m, or approximately USD 326,000 per key, the company said.

The addition of Aloft expands Apple Hospitality's portfolio and increases the company's exposure to the Portland market.

Following this acquisition, the Apple Hospitality portfolio includes 215 hotels with approximately 28,100 guest rooms geographically diversified throughout 35 states.

Apple Hospitality REIT, Inc. is a publicly traded real estate investment trust that owns a diverse portfolio that consists of 215 hotels with approximately 28,100 guest rooms located in 85 markets throughout 35 states.

Concentrated with industry-leading brands, the company's portfolio consists of 94 Marriott-branded hotels, 115 Hilton-branded hotels, four Hyatt-branded hotels and two independent hotels.
Date Published: 15/09/2021