Apple Hospitality REIT has acquired SpringHill Suites by Marriott Las Vegas Convention Centre in the US for approximately $75m.
The property, which opened in October 2009, is situated adjacent to the Las Vegas Convention Centre.
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The 299-room hotel features more than 10,000ft² of indoor and outdoor meeting space.
The property also features a rooftop pool and a seven-storey parking garage plus a surface lot with a total of 244 spaces.
SpringHill Suites by Marriott Las Vegas Convention Centre is near gaming, dining, and entertainment venues.
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It also offers access to MGM Grand Garden Arena, Allegiant Stadium, T-Mobile Arena, and Las Vegas Ballpark.
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By GlobalDataApple Hospitality has two more hotels under contract comprising Embassy Suites by Hilton in downtown Madison, Wisconsin, and Motto by Hilton in downtown Nashville, Tennessee.
The Wisconsin property currently under development is expected to be purchased for approximately $78.6m later this year.
Meanwhile, the Tennessee property is anticipated to be acquired for $96.7m next year after the completion of construction.
However, the company noted that several conditions to closing have not yet been met and the finalisation of these purchases is not guaranteed.
In November 2023, Apple Hospitality REIT completed the acquisition of Embassy Suites by Hilton South Jordan Salt Lake City, Utah.
Currently, Apple Hospitality’s portfolio includes 225 hotels, with 29,900 guest rooms across 38 US states.
