Apple Hospitality REIT has acquired the Courtyard by Marriott Cleveland University Circle in Cleveland, Ohio, in a deal valued at $31m.

Located at 2021 Cornell Road, the 154-room hotel was opened in April 2013 and recently underwent a complete renovation of interior public spaces and guest rooms.

The renovation work involved the addition of a new guest room, new signage, an elevated bar experience, an expanded fitness centre and enhanced meeting facilities.

The Courtyard Cleveland University Circle is ideally situated within University Circle and near major league sports stadiums, including Cleveland Browns Stadium, Rocket Mortgage FieldHouse and Progressive Field.

It is also in proximity to Case Western Reserve University and University Hospital.

Apple Hospitality real estate and investments president Nelson Knight said: “We are pleased to grow our portfolio with the acquisition of this custom-designed, recently renovated Courtyard by Marriott in the heart of Cleveland’s University Circle district.

“Cleveland offers a wide variety of demand generators from business and leisure to academic, health care and medical research.

“We will continue to actively explore transactions that refine, enhance and grow our existing portfolio while increasing our exposure to markets like Cleveland with strong growth trajectories and attractive cost structures.”

With the acquisition of the Courtyard by Marriott Cleveland University Circle, the company’s portfolio now includes 221 hotels with 29,138 guest rooms located across 37 US states.

In 2019, Apple Hospitality REIT acquired the 128-room Home2 Suites by Hilton Orlando Airport in Orlando, Florida, for $20.7m.