X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-DiamondRock Hospitality Co. said Monday that it has acquired the 169-room Hilton Garden Inn Chelsea New York City from a joint venture of Inland America and Winston Hotels in an all-cash deal marking its third acquisition here. The $68.4-million purchase price represents a 12.9 multiple of 2010 EBITDA and a 7% capitalization rate on forecasted NOI for the year, says the Bethesda, MD-based DiamondRock.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.