Monday November 19th, 2012 - 12:04AM
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.