Hotel Business Magazine, hotelbusiness.com | The Newspaper For Lodging Decision Makers

Chatham Acquires Maine Hampton

Wednesday January 9th, 2013 - 8:20AM

PORTLAND, ME–Chatham Lodging Trust has acquired the 122-room Hampton Inn Portland Downtown-Waterfront Hotel for $28 million.

The name of the seller wasn't disclosed. The hotel opened in the summer of 2010. The purchase price included an adjacent land parcel that can be sold or used for future commercial or residential development.

Chatham Lodging Trust is a hotel real estate investment trust that focuses on upscale extended-stay and premium branded, select-service hotels. Its current portfolio includes 19 owned hotels with 2,536 rooms in 11 states and the District of Columbia. Chatham also holds a minority stake in a joint venture that owns 55 hotels with 7,282 rooms.