Apple Hospitality REIT Acquires the AC Hotel by Marriott Louisville Downtown and the AC Hotel by Marriott Pittsburgh Downtown
Summary
“ We are pleased to enhance our portfolio with these attractive acquisitions that highlight the strength of our relationships with best-in-class hotel owner-operators and our ability to drive value in a highly competitive marketplace,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. “ These thoughtfully designed hotels offer guests modern accommodations, comfortable meeting spaces and distinctive lounge areas, and are well positioned within their markets to benefit from a variety of business and leisure demand generators. The hotel is ideally located a short distance from PPG Paints Arena, Acrisure Stadium and PNC Park, which are home to Pittsburgh’s professional sports teams and significant drivers of leisure travel to the area. Currently, one of the most significant factors that could cause actual outcomes to differ materially from the Company’s forward-looking statements continues to be the adverse effect of COVID-19, including resurgences and variants, on the Company’s business, financial performance and condition, operating results and cash flows, the real estate market and the hospitality industry specifically, and the global economy and financial markets generally. The Company undertakes no obligation to publicly update or revise any forward-looking statements or cautionary factors, as a result of new information, future events, or otherwise, except as required by law.