Apple Hospitality Acquires Courtyard by Marriott in San Diego

RICHMOND, VA—Apple Hospitality REIT, Inc. has closed on the acquisition of a 245-room Courtyard by Marriott in San Diego for a purchase price of $56 million, or approximately $229,000 per key.

“We are pleased to add the recently renovated Courtyard San Diego Central to our portfolio of upscale hotels and increase our presence in the dynamic San Diego market,” said Nelson Knight, EVP and chief investment officer for Apple Hospitality REIT. “San Diego’s economy is diversified across numerous leisure and corporate demand generators, and we believe this hotel is well-positioned for future growth.”

Located at 8651 Spectrum Center Blvd., the hotel is near Qualcomm Stadium, San Diego State University, the University of California San Diego, the San Diego Zoo, Marine Corps Air Station Miramar, SeaWorld San Diego, the Gaslamp Quarter, downtown San Diego and San Diego’s beaches.

Following this acquisition, the Apple Hospitality portfolio includes 177 hotels, with approximately 22,750 guestrooms, across 32 states.