American Hotel Income Properties (AHIP) announced on Thursday that it bought four hotel properties located in and around Pittsburgh for US$57.3 million.
AHIP said the transaction is expected total US$64 million after closing and renovation costs. The four hotels include the the 132-room Hampton Inn Pittsburgh/Greentree, the 127-room Hampton Inn Pittsburgh Airport Hotel, located in Coraopolis, the 117-room Hampton Inn Pittsburgh/Cranberry, located in Cranberry Township, and the 96-room Residence Inn Pittsburgh Cranberry Township.
AHIP, Vancouver, Canada, reported that the four hotels were bought from the same seller but did not disclose the seller when asked by HOTELS. AHIP said it has not plans to rebrand the hotels but will take over management of the franchised properties.
