The deal for the 127-room luxury hotel calculated out to approximately $421,000 per key. The transaction marks Xenia’s fourth luxury hotel property acquisition in 2018 and is the company’s 41st hotel property in its portfolio.
The company also announced plans to establish new sites in Seattle, San Diego and Culver City and expand in cities across the United States including Pittsburgh, New York and Boulder, Colorado over the next three years.
"Our team has been integral in the successful evolution of the asset class to better meet the needs of today’s customers and communities," says James E. Hanson II, president and CEO of The Hampshire Companies.
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