Chatham Lodging Trust has acquired five Innkeepers hotels in the US, comprising a total of 764 rooms, for $195m.
The hotels include Residence Inn Anaheim, Residence Inn San Diego, Residence Inn Tysons Corner, Doubletree Guest Suites and Homewood Suites, with 200, 192, 121, 105 and 146 rooms, respectively.
The five hotels will continue to be managed by Island Hospitality Management, a hotel management company that is 90% owned by Fisher.
Chatham CEO and president Jeffrey Fisher said four of the five hotels have been recently renovated.
The company funded the acquisition through the assumption of five individual mortgage loans, secured by the hotels for $134.2m.