Apple Hospitality acquires Hyatt Place Greenville Downtown for $30M

Apple Hospitality has announced its acquisition of Hyatt Place Greenville Downtown in Greenville, S.C.
Apple Hospitality has announced its acquisition of Hyatt Place Greenville Downtown in Greenville, S.C.

GREENVILLE, S.C. – Apple Hospitality has acquired the 130-room Hyatt Place in downtown Greenville, S.C. for a total purchase price of approximately $30 million.

“Greenville has benefited from the recent shift of companies to smaller, more business-friendly cities and is home to numerous corporations and startups that span a variety of industries,” said Nelson Knight, president, real estate and investments of Apple Hospitality. “We are pleased to grow our portfolio with the acquisition of this recently built hotel in the heart of Greenville’s charming downtown where visitors and residents can enjoy a wealth of amenities, beautiful outdoor spaces, and a thriving arts and entertainment community. The Hyatt Place Greenville Downtown is a great addition to our portfolio, and we are confident in the ongoing strength of business and leisure travel throughout the Greenville area.”

The Hyatt Place Greenville Downtown opened in December 2018, situated near a variety of attractions, including Falls Park on the Reedy, the Peace Center, Bon Secours Wellness Arena, the Greenville Zoo, and an array of restaurants, entertainment venues, museums, and art galleries. According to data provided by STR, results for the Hyatt Place Greenville Downtown exceeded the company’s full portfolio averages in June 2021, with the hotel reporting occupancy of 79 percent, average daily rate of $153, and revenue per available room (“RevPAR”) of $121 for the month.

Following this acquisition, the Apple Hospitality portfolio includes 214 hotels with more than 27,900 guest rooms geographically diversified throughout 35 states.

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