RLJ Adds Boston Area Embassy Suites
Monday November 19th, 2012 - 12:04AM H
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
WALTHAM, MA–RLJ Lodging Trust has acquired the 275-suite Embassy Suites Hotel in this suburb of Boston, the REIT's first entry into the Greater Boston market.
RLJ paid $64.5 million for the asset, which equates to roughly $235,000 per key. The property converted from a DoubleTree by Hilton Guest Suites in 2011, following a $12 million renovation. The hotel is one of only three Embassy Suites properties in the Greater Boston area. Like the DoubleTree brand, Embassy Suites is part of Hilton Worldwide.
Tags: • Hospitality • Ownership •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.