DIAMONDROCK HOSPITALITY ACQUIRES THE AC HOTEL MINNEAPOLIS DOWNTOWN
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DiamondRock Hospitality Company has acquired the AC Hotel Minneapolis Downtown for $30 million, enhancing its portfolio with a 245-room property.
November 15, 2024 | 1:15 pm
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DiamondRock Hospitality Company has acquired the AC Hotel Minneapolis Downtown for $30 million, adding a 245-room property to its portfolio.
The acquisition of the AC Hotel Minneapolis Downtown by DiamondRock Hospitality is a strategic move to expand its portfolio. The purchase price of $30 million, or $122,000 per key, suggests a potentially favorable deal. This acquisition could positively impact DRH's stock price in the short term as it enhances the company's asset base and market presence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100