Chatham Lodging Trust acquires the 134-room Hilton Garden Inn Marina del Rey in California for US$44.5 million, which works out at nearly US$332,000 per room.
The Hilton Garden Inn Marina del Rey hotel converted from an independent hotel in June 2013 after an extensive renovation and received the ?Best Conversion Award? by Hilton in 2014. The property will only require minimal brand-mandated updates in the near-term and will require no major capital investment until 2020.
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