A previously announced deal for four south Baton Rouge hotels has been completed as part of a $150 million, 10-hotel acquisition by American Realty Capital Hospitality Trust Inc.
Local hotels sold by Summit Hotel Properties included the DoubleTree, a 127-room hotel on Constitution Avenue; the Fairfield Inn & Suites and the SpringHill Suites, each 78-room hotels on Essen Park Avenue; and TownPlace Suites, a 90-room property on Summa Avenue.
The transaction is part of the first 10 of 26 hotels that American Realty said it will buy from Summit for a total price of $347.4 million. The 10 hotels are all branded with Marriott International and Hilton Hotels & Resorts. In addition to Baton Rouge, the other hotels acquired are in Flagstaff, Arizona; Fort Wayne, Indiana; Medford, Oregon; and El Paso, Texas.