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Apple Hospitality REIT Buys Embassy Suites in Madison for $79.5M
Apple Hospitality REIT, Inc. announced the opening and acquisition of the 262-room Embassy Suites by Hilton Madison Downtown in Wisconsin for approximately $79.5 million, or $303,000 per key.
“We are pleased to expand our portfolio with the acquisition of the newly constructed, custom Embassy Suites Madison Downtown and increase our presence within the dynamic and business-friendly Madison market,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality.
The newly built Embassy Suites Madison Downtown is located at 231 South Pinckney Street. The hotel is a short walk from Monona Terrace Community and Convention Center and the Wisconsin State Capitol. The property is also conveniently located near the University of Wisconsin-Madison and a variety of restaurants, shops, art galleries, parks, museums and entertainment venues.
Following the acquisition of the Embassy Suites Madison Downtown and the disposition of a SpringHill Suites Greensboro, the Apple Hospitality hotel portfolio includes 224 hotels with 30,066 guest rooms.
