MERRILLVILLE, IND., AND RICHMOND, VA. — White Lodging Services Corp. has sold a 16-hotel portfolio to Apple Real Estate Investment Trust Cos. (Apple REIT) for an undisclosed amount. The properties include:
• Courtyard by Marriott – Chandler, Ariz.;
• Fairfield Inn & Suites – Chandler, Ariz.;
• Courtyard by Marriott – Phoenix;
• Residence Inn – Phoenix;
• Embassy Suites – Brandon, Fla.;
• Hilton Garden Inn – Mettawa, Ill.;
• Residence Inn – Mettawa, Ill.;
• Hilton Garden Inn – Schaumburg, Ill.;
• Hilton Garden Inn – Warrenville, Ill.;
• Residence Inn – Mishawaka, Ind.;
• Springhill Suites – Fishers, Ind.;
• Hilton Garden Inn – Novi, Mich.;
• Courtyard by Marriott – Austin, Texas;
• Fairfield Inn & Suites – Austin, Texas;
• Hilton Garden Inn – Austin, Texas; and
• Springhill Suites – Salt Lake City.
White Lodging will continue to manage the properties under long-term agreements With this acquisition, Apple REIT's portfolio increases to more than 240 hotels located nationwide.
“The transaction with Apple REIT provides White Lodging with additional capital to continue executing our strategic growth plan at a time when many of our competitors are merely trying to stay afloat,” said Deno Yiankes, president and CEO of investments and development for White Lodging, in a statement.
The acquisition price was not released.
— Coleman Wood