The newly built hotel features a restaurant, meeting rooms, and more. Credit: Anneleven Stock/Shutterstock.

Real estate investment trust Apple Hospitality REIT has acquired Embassy Suites by Hilton Madison Downtown in the US for approximately $79.5m.  

The newly constructed hotel, featuring 262 rooms, has opened at 231 South Pinckney Street, Madison, Wisconsin. 

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This property has amenities including Brickstones Kitchen and Bar, a fitness centre, business centre, meeting rooms, and more. 

It is located within walking distance to the Monona Terrace Community and Convention Centre and the Wisconsin State Capitol.  

Apple Hospitality real estate and investments president Nelson Knight said: “We are pleased to expand our portfolio with the acquisition of the newly constructed, custom Embassy Suites Madison Downtown and increase our presence within the dynamic and business-friendly Madison market. 

“Through our longstanding relationship with one of the industry’s leading and most trusted developers, we secured a fixed-price, take-out contract ahead of development, enabling us to acquire this Hotel at an attractive price despite rising construction costs over the course of development.” 

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Apple Hospitality has also announced the sale of the 82-room SpringHill Suites by Marriott Greensboro in North Carolina.  

The property was sold for approximately $7.1m. 

Following these recent activities, Apple Hospitality’s hotel portfolio now comprises 224 hotels with a total of 30,066 guest rooms, spread across 37 states and the District of Columbia.  

In March 2024, Apple Hospitality acquired AC Hotel by Marriott Washington DC Convention Centre for $116.8m. 

Furthermore, Apple Hospitality has disclosed the same month that it is in the process of expanding its portfolio with the addition of a Motto by Hilton in Nashville, Tennessee.  

The anticipated total purchase price for the 260-room hotel is around $98.2m. The acquisition is estimated for late 2025, following the completion of the hotel’s construction.