Apple Hospitality buys Courtyard by Marriott Cleveland University Circle for $31M (APLE)

Apple Hospitality REIT (NYSE:APLE) expanded its portfolio with the acquisition of the newly renovated Courtyard by Marriott Cleveland University Circle for $31M, or about $201K per key, it said Wednesday.

The 154-room Cleveland, Ohio-based Hotel opened in April 2013 and recently underwent a complete renovation of its guest rooms and interior public spaces, including new signage, an elevated bar experience, enhanced meeting facilities, an expanded fitness center and the addition of one guest room.