RLJ Lodging Trust announced this week that had acquired two hotels for a combined total of $146.5 million. RLJ acquired the Courtyard New York Manhattan/Upper East Side, a 226-room hotel, through a bankruptcy court-ordered sale for $82 million. The second property, the 187-room Residence Inn by Marriott Bethesda Hotel Downtown, was acquired in an off-market transaction for $62.5 million.
"We were able to leverage our extensive network and strong industry relationships to source and execute accretive transactions in key gateway cities," commented Thomas J. Baltimore, Jr., President and Chief Executive Officer at RLJ Lodging Trust. "We expect these two new additions to yield strong results and strengthen our overall portfolio."
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