LaSalle Hotel Properties has acquired the leasehold interest in Hotel Roger Williams in New York, US, for $90m.
The property will continue to be managed by JRK Hotel Group.
The property features a restaurant and 396.2m² of meeting and function space, including a landscaped 243.8m² outside terrace.
The 193-room hotel is subject to a master lease, which expires 31 December 2044.
LaSalle Hotel Properties president and CEO Michael Barnello said the acquisition will help the company to invest further in the city.
LaSalle Hotel Properties is a leading multi-operator, real estate investment trust that owns 33 upscale, full-service hotels in the US.