Apple Hospitality REIT Acquires Motto by Hilton Nashville Downtown

Apple Hospitality REIT, Inc. announced the acquisition of the 260-room Motto by Hilton Nashville Downtown for approximately $98.2 million. The newly constructed hotel is located at 311 3rd Avenue S, Nashville, Tennessee, and is within walking distance of major attractions. This acquisition increases Apple Hospitality's exposure to the Nashville market, which shows strong demand trends. The hotel features Motto's signature Connecting Room capabilities. Following this acquisition, Apple Hospitality's portfolio comprises 217 hotels with 29,580 guest rooms across 37 states and the District of Columbia. The company highlighted the hotel's attractive per-key price and its potential to drive strong operating performance due to its prime location and the city's diverse demand generators. The press release also includes a forward-looking statements disclaimer, detailing potential risks and uncertainties.