News
AHIP REIT Adds Embassy Suites Hotels To Its Portfolio
Embassy Suites
American Hotel Income Properties REIT has acquired two Embassy Suites by Hilton hotels, in Dallas and Tempe, AZ, for an aggregate purchase price of US$57.6M. The 305-room Embassy Suites Dallas-DFW International Airport South is two miles from the airport; the 224-room Embassy Suites Phoenix-Tempe is minutes from Arizona State University. The deal brings Vancouver-based AHIP’s portfolio to 82 hotels (7,625 guest rooms), and CEO Rob O’Neill notes it marks his firm’s entry into two top 25 US metro markets. The transactions introduce the Embassy Suites by Hilton brand to AHIP’s stable.
