Apple Hospitality REIT, Inc. has acquired the 160-room Hampton Inn & Suites by Hilton Downtown St. Paul for $31.7 million from a subsidiary of Vista Host in Minnesota.
“The Hampton Inn & Suites is ideally located in downtown St. Paul and benefits from the area’s wide variety of corporate, leisure and healthcare demand generators,” said Nelson Knight, Executive Vice President and Chief Investment Officer of Apple Hospitality.
“St. Paul is a vibrant city with a diversified economy, home to numerous corporate offices including 3M, Ecolab, The Travelers Companies and Securian Financial Group. The Hotel, which opened in November of 2016, complements our existing portfolio and is consistent with our strategy of investing in rooms-focused hotels that are aligned with industry-leading brands and located in markets that provide a wealth of business drivers and strengthen the geographic diversification of our portfolio.”
Following this acquisition, the Apple Hospitality portfolio includes 242 hotels with more than 30,900 guest rooms geographically diversified throughout 34 states.
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