Apple Hospitality REIT Acquires AC Hotel by Marriott in Portland, Maine, for $66.8M

PORTLAND, MAINE — Apple Hospitality REIT Inc. (NYSE: APLE) has acquired the 178-room AC Hotel by Marriott in Portland for $66.8 million, or roughly $375,000 per room. The property, which opened in summer 2018, is located within the city’s historic district near its cruise ship terminals. Amenities include a fitness center and two food and beverage concepts. The seller was not disclosed. Following this acquisition, the Apple Hospitality portfolio now includes 213 hotels with approximately 27,800 guest rooms across 35 states.