Chatham Lodging Trust Completes Acquisition of Two Hotels (United States)
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Chatham Lodging Trust Completes Acquisition of Two Hotels (United States)
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Category: North America & West Indies / Carribean islands - United States - Industry economy
- Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2010-08-25
Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on upscale extended-stay hotels and premium-branded select-service hotels, today announced that it has completed the acquisition of two hotels as part of a previously announced four-hotel package. The hotels are the 86-room SpringHill Suites by Marriott® in Washington, Pa. and the 105-room Courtyard by Marriott® in Altoona, Pa. The hotels will continue to be managed by Concord Hospitality Enterprises.
The company now has closed on three of the hotels in a previously announced four-hotel portfolio. The fourth hotel, a Residence Inn by Marriott® in White Plains, N.Y., remains subject to completion of due diligence and other closing conditions as previously reported.
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