An unknown buyer completed the acquisition of Homewood Suites and Hampton Inn Bentonville/Rogers from Apple Hospitality REIT, Inc. for $33.5 million.
February 21, 2024
Share
An unknown buyer acquired Homewood Suites and Hampton Inn Bentonville/Rogers from Apple Hospitality REIT, Inc. (NYSE:APLE) for $33.5 million on December 31, 2023. As part of the transaction, A portion of the proceeds from the sale of the two hotels will be used to complete a like-kind exchange in accordance with Section 1031 of the Internal Revenue Code of 1986, as amended, with future acquisitions, which is expected to result in the deferral of taxable gains of approximately $15 million.
An unknown buyer completed the acquisition of Homewood Suites and Hampton Inn Bentonville/Rogers from Apple Hospitality REIT, Inc. (NYSE:APLE) on February 9, 2024.
Apple Hospitality REIT, Inc. is a real estate investment trust (REIT) that owns a diverse portfolio of upscale, room-focused hotels in the United States. The Company's portfolio consists of about 224 hotels with more than 29,886 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties. Its hotel portfolio consists of 100 Marriott-branded hotels, 118 Hilton-branded hotels and five Hyatt-branded hotels. Its hotels operate under Marriott or Hilton brands. The hotels are operated and managed under separate management agreements with 16 hotel management companies, consisting of Hilton Garden Inn, Hampton, Courtyard, Residence Inn, Homewood Suites, SpringHill Suites, Fairfield, Home2 Suites, TownePlace Suites, AC Hotels, Hyatt Place, Marriott, Embassy Suites, Aloft, and Hyatt House. Its hotels are located in various states, including Alaska, Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, Michigan, and others.
APPLE HOSPITALITY REIT, INC. 
