Apple Hospitality REIT acquires Embassy Suites Madison for $79.5M, sells SpringHill Suites Greensboro for $7.1M

Apple Hospitality REIT, Inc.

Acquired 262-room Embassy Suites by Hilton Madison Downtown for ~$79.5M ($303k per key); sale-leaseback fixed-price contract.
Sold 82-room SpringHill Suites by Marriott Greensboro for ~$7.1M.
Portfolio now includes 224 hotels with 30,066 rooms across 37 states and D.C.
One additional hotel under contract: Motto by Hilton Nashville for ~$98.2M, expected late 2025 (conditions not yet satisfied).
Madison CBD submarket RevPAR improved ~7% YoY per STR data through May 2024.

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