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February 21, 2024
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Apple Hospitality REIT Spends $75 Mil on Las Vegas Hotel Asset

1/04/24

In a year-end Vegas hotel buy, Apple Hospitality REIT paid $75 mil for SpringHill Suites by Marriott Las Vegas Convention Center, a 299-room hospitality property. The deal works out to around $250k/room.

Constructed in 2009, SpringHill Suites Las Vegas Convention Center is located at 2989 Paradise Rd, next to the Convention Center and moments from The Strip. Rooms at the three-star feature a spacious living area, professional work station, and a refreshment center that includes a refrigerator, microwave and coffee-maker. Bathrooms offer a separation for the vanity, giving any paired travelers privacy but with the ability to get ready at the same time. The hotelís rooftop pool provides impressive Vegas views.

For Apple Hospitality, the acquisition boosts their portfolio to 225 hotels with almost 30,000 guest rooms spread across 38 states.




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