- The 155-room hotel operated at an ADR of $169.36 and occupancy of 89.5% over the trailing 12 months.
- It will be immediately accretive to NYSE:HT's RevPAR and EBITDA, and should benefit further from the company's planned pricing and positioning strategies.
- The purchase will be funded with cash on hand, a draw on the company's $250M credit facility, and the assumption of a $25.8M mortgage. Closing is hoped for this month.
- Source: Press Release