>$74M Buys Six Homewood Suites

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>FORT LAUDERDALE-Chatham Lodging Trust, based in Palm Beach, acquired six Homewood Suites by Hilton from RLJ Development, LLC, a hotel investment company, based in Bethesda, Maryland, for $73.5 million or approximately $90,406 per suite on April 23rd. The six hotels are the first properties to be acquired since Chatham Lodging Trust went public on April 21st.

The properties are in the Boston, Hartford, Connecticut, Minneapolis, Dallas, Orlando and Nashville markets.

In the future, says Peter Willis, chief investment officer at Chatham, “We are going to acquire more upscale, extended-stay hotels and premium-branded select service hotels, such as more Homewood Suites, Residence Inns, Marriott Courtyards and Hampton Inns.”

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