The acquisition of a high-value property like the AC Hotel by Marriott Washington DC Convention Center is a significant investment for Apple Hospitality REIT. This move likely aims to enhance the company's portfolio and attract more investors by showing growth and strategic expansion. The investment amount of approximately $116.8 million indicates a major commitment to this strategy. Given the property's location and the Marriott brand, this acquisition could positively impact Apple Hospitality REIT's revenue and profitability in the short term.