Apple Hospitality REIT, Inc. Acquires Three Hotels for a Combined Total of $126 million
RICHMOND, VA. July 21, 2015 - Apple Hospitality REIT, Inc. (NYSE: APLE) ("Apple Hospitality" or the "Company") today announced that it recently completed the acquisition of three hotels: a Hampton Inn® in Ft. Lauderdale, FL; a Hampton Inn® in Cypress, CA; and a SpringHill Suites® by Marriott® in Burbank, CA.
The Company closed on the acquisition of the 156-room Hampton Inn® in the Las Olas area of downtown Ft. Lauderdale, FL, on June 23, 2015, for a purchase price of approximately $23 million. The property, convenient to Port Everglades and the Ft. Lauderdale-Hollywood International Airport, is located in the heart of downtown Ft. Lauderdale near multiple guest attractions and amenities.
Effective June 29, 2015, the Company acquired a 110-room Hampton Inn® in Cypress, CA, for approximately $20 million. The property is located two miles from downtown Cypress, convenient to a variety of national and international corporate headquarters and less than seven miles from Disneyland® Park.
The Company also purchased a new 170-room SpringHill Suites® by Marriott® in Burbank, CA, effective July 13, 2015, for a purchase price of approximately $60 million. The boutique-style hotel is located within walking distance of downtown Burbank and convenient to the numerous attractions in the Hollywood area.
About Apple Hospitality REIT, Inc.
Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest portfolios of upscale, select service hotels in the United States. As of June 30, 2015, the Company's portfolio consisted of 174 hotels, with 22,177 guestrooms, diversified across the Hilton® and Marriott® families of brands with locations in urban, high-end suburban and developing markets across 32 states. For more information, please visit www.applehospitalityreit.com.
Contact:
Kelly Clarke, Director of Investor Services
[email protected]
804-727-6321
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
