Apple Hospitality REIT has purchased 119-room Hampton Inn & Suites by Hilton Atlanta-Downtown and 144-room Hampton Inn & Suites by Hilton Memphis-Beale Street for a total amount of $63m.
After these acquisitions, the Apple Hospitality portfolio consists of 241 hotels, with more than 30,500 guest rooms. This portfolio is spread across 34 US states.
Apple Hospitality REIT executive vice president and chief investment officer Nelson Knight said: “Memphis and Atlanta are dynamic cities with tremendous appeal for both business and leisure travelers, and we are pleased to strengthen our presence within each market.
“Each of these hotels is well located within the business district and in close proximity to a multitude of amenities and attractions including restaurants, shops, museums and entertainment venues.”
The Hampton Inn & Suites by Hilton Atlanta-Downtown is located at 161 Ted Turner Drive NW in Atlanta, Georgia.
It is located conveniently to Centennial Olympic Park, the CNN Center, the World of Coca-Cola, the College Football Hall of Fame and several corporate headquarters and healthcare facilities.
The Hampton Inn & Suites by Hilton Memphis-Beale Street is located at 175 Peabody Place in Memphis, Tennessee. It is in downtown Memphis near several corporate offices, healthcare facilities and colleges.
It also benefits from several attractions including the Beale Street Entertainment District, AutoZone Park, Memphis Cook Convention Center, FedExForum, the National Civil Rights Museum, Graceland and the Orpheum Theatre.
Crestline Hotels & Resorts was appointed to manage the Hampton Inn & Suites Memphis–Beale Street hotel.