DALLAS—Phoenix American Hospitality has purchased seven upscale select-service hotels in Arkansas, Louisiana and Florida for $109 million.
This acquisition of one Hilton and six Marriott properties adds 778 rooms to the Phoenix American Hospitality portfolio. So far in 2017, Phoenix American Hospitality has purchased 13 properties totaling 1,532 rooms in nine states. These acquisitions were purchased through a joint venture arrangement with Aspect Investment Partners Ltd.
The newly acquired properties include TownePlace Suites by Marriott Fayetteville North/Springdale, Aloft Rogers-Bentonville and Fairfield Inn & Suites by Marriott Jonesboro, all in Arkansas; Courtyard by Marriott Baton Rouge, Residence Inn by Marriott Baton Rouge and TownePlace Suites by Marriott New Orleans Metairie, all in Louisiana; and Hampton Inn & Suites Fort Myers in Fort Myers, FL.