Apple Hospitality REIT Acquires Embassy Suites By Hilton Madison Downtown For ~$79.5M
Portfolio Pulse from Benzinga Newsdesk
Apple Hospitality REIT has acquired the Embassy Suites by Hilton Madison Downtown for approximately $79.5 million.
June 21, 2024 | 1:03 pm
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NEUTRAL IMPACT
Apple Hospitality REIT has acquired the Embassy Suites by Hilton Madison Downtown for approximately $79.5 million.
While Hilton Worldwide Holdings Inc. (HLT) is indirectly mentioned due to the property being an Embassy Suites by Hilton, the direct financial impact on HLT is minimal. Therefore, the short-term impact on HLT's stock price is likely neutral.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Apple Hospitality REIT has acquired the Embassy Suites by Hilton Madison Downtown for approximately $79.5 million.
The acquisition of a high-profile property like the Embassy Suites by Hilton Madison Downtown is likely to positively impact Apple Hospitality REIT's portfolio and revenue potential, leading to a short-term positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100