Chatham Lodging Trust Acquires Two Marriott-Branded Hotels in Austin for $71.2M

AUSTIN, TEXAS — Chatham Lodging Trust (NYSE: CDLT) has acquired two Marriott-branded hotels totaling 269 rooms near The Domain in North Austin for $71.2 million, or approximately $265,000 per room. The purchased hotels include the 132-room Residence Inn Austin Domain that opened in July 2016 and the 137-room TownePlace Suites by Marriott that opened in June 2021. Island Hospitality Management will manage the hotels. The seller(s) was not disclosed.