DiamondRock Hospitality acquires the AC Hotel Minneapolis Downtown
by Contributor since / Followers
15 hours ago
DiamondRock Hospitality Company (DRH) has acquired the fee simple interest in the 245-room AC Hotel Minneapolis Downtown for $30m, or ~$122,000 per key with cash on hand.
The acquisition represents an 8.2% capitalization rate on the hotel’s forecasted 2024 net operating income and