Chatham Lodging REIT acquires Pennsylvania SpringHill, Courtyard hotels

PENNSYLVANIA Chatham Lodging Trust, a hotel REIT focused on upscale extended-stay hotels and premium-branded select-service hotels, has completed the acquisition of two hotels as part of a previously announced four-hotel package.

 The hotels are the 86-key SpringHill Suites by Marriott in Washington, Pennsylvania, and the 105-key Courtyard by Marriott in Altoona, Pennsylvania. The hotels will continue to be managed by Concord Hospitality Enterprises.

The company now has closed on three of the hotels in a previously announced four-hotel portfolio priced at US$61 million. The fourth hotel, a Residence Inn by Marriott in White Plains, New York, remains subject to completion of due diligence and other closing conditions.