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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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
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