Chatham Lodging Trust has acquired its first Marriott Hotel properties, bringing its portfolio of hotels up to ten.
The Trust has bought the Residence Inn by Marriott in New York and the Hampton Inn & Suites in Texas, along with the Courtyard by Marriott and the Spring Hill Suites by Marriott in Pennsylvania.
This is the second multi-property acquisition for the company after it invested $134.5m in acquiring new hotels since it went public in April.
Small improvements will be carried out on three of the hotels while the fourth will undergo a major upgrade, Chatham Lodging Trust said.
The deal is expected to close soon, according to businessweek.com.