American Hotel Income Properties (AHIP) has acquired a 70-room hotel in Fort Scott, Kansas for a total purchase price of $3.31m.
The Fort Scott Property will be now managed by TR Lodging Enterprises, a subsidiary of O’Neill Hotels & Resorts.
AHIP CEO Rob O’Neill said: "I am pleased to announce the completion of this acquisition, which diversifies our client base and builds on our platform as the largest and highest quality chain of rail-crew lodging properties in the US."
The aggregate purchase price includes planned capital expenditures, and excludes closing and post-acquisition adjustments.
The property was secured by a rail-crew lodging contract with a US rail firm.
With the latest development, AHIP’s portfolio comprises 79 hotels with a total of 6,891 rooms. This includes 44 rail-crew hotels with a total of 3,561 rooms, and 35 branded hotels with a total of 3,330.
In June, AHIP completed the acquisition of nine branded select-service hotel properties for $53.5m.
These properties are franchised by Hilton Hotels & Resorts, Carlson Rezidor Hotel Group and InterContinental Hotels Group. They are spread across five states and offer a total of 632 rooms.