Apple Hospitality REIT has concluded the acquisition of Embassy Suites by Hilton South Jordan Salt Lake City, Utah, US.
Located at 10333 South Jordan Gateway, South Jordan, the property has been purchased for $36.8m.
Apple Hospitality president of real estate and investments Nelson Knight said: “We are pleased to expand our portfolio with the acquisition of this ideally located Embassy Suites by Hilton in South Jordan.
“As we continue to explore different opportunities, we remain focused on pursuing transactions that cultivate and refine our current portfolio and enhance long-term shareholder value. We have two additional hotels under contract for purchase and continue to underwrite numerous opportunities.”
Opened in March 2018, the property features 192 pet-friendly rooms and an on-site restaurant.
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It also provides an array of amenities, including a business centre, indoor pool, meeting rooms, and a fitness centre.
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By GlobalDataSituated along Interstate 15, next to South Jordan Station, the hotel provides access to downtown Salt Lake City and Salt Lake City International Airport.
Guests can also visit nearby spots such as The Shops at South Town, South Jordan Towne Centre, America First Field, and Cottonwood Canyons ski areas.
With the completion of this deal, Apple Hospitality’s hotel portfolio now includes 224 hotels with 29,601 guest rooms, which are geographically diversified across 37 US states.
This deal comes after Apple Hospitality acquired Residence Inn by Marriott Seattle South/Renton last month.
The company also plans to acquire two hotels, including the 256-room Motto by Hilton in downtown Nashville, Tennessee, for $96.7m.
It is anticipated to be purchased in 2025 after the completion of construction.
The second hotel is the 260-room Embassy Suites by Hilton, which is currently under development in downtown Madison, Wisconsin.
The company plans to acquire the Madison property for an estimated price of nearly $78.6m in mid-2024, following the completion of the construction.
