{"id":1004125333,"date":"2015-08-14T10:24:51","date_gmt":"2015-08-14T18:24:51","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=358021"},"modified":"2020-05-14T02:06:02","modified_gmt":"2020-05-14T10:06:02","slug":"marriott-hotel-in-burbank-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marriott-hotel-in-burbank-changes-hands\/","title":{"rendered":"Marriott Hotel in Burbank Changes Hands"},"content":{"rendered":"

By Adriana Pop, Associate Editor <\/em><\/p>\n

Apple Hospitality REIT Inc<\/a>. has closed on its previously announced acquisition of the 190-key Courtyard by Marriott in Burbank.<\/p>\n

\"Courtyard<\/a><\/p>\n

Courtyard Los Angeles Burbank Airport<\/p>\n<\/div>\n

The Richmond-based company purchased the property for $54 million, or approximately $284,000 per room.<\/p>\n

The recently renovated Courtyard Los Angeles Burbank Airport<\/a> offers guests an array of amenities, including a fitness center, swimming pool, meeting space and free high-speed internet.<\/p>\n

The hotel is located in the heart of the San Fernando Valley, with easy access to multiple entertainment, media, health care and technology companies. The Burbank Bob Hope Airport and a variety of attractions such as Walt Disney Studios, Universal Studios Hollywood and Warner Bros. Studios are situated within the property\u2019s proximity.<\/p>\n

The hotel is poised to benefit from the area\u2019s business and leisure demand generators. According to Smith Travel Research<\/a>, the Burbank hospitality market has seen positive demand and rate trends, with RevPAR growth of 7.2 percent during the first six months of 2015 compared to the same period in 2014.<\/p>\n

This acquisition brings the Apple Hospitality portfolio to 176 hotels with approximately 22,500 guest rooms. The properties belong to the Hilton and Marriott brands and are geographically diversified across 32 states.<\/p>\n

Photo credits: www.marriott.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Apple Hospitality REIT Inc. has closed on its previously announced acquisition of the 190-key Courtyard by Marriott in Burbank.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[],"class_list":["post-1004125333","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest"],"acf":[],"yoast_head":"\nMarriott Hotel in Burbank Changes Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/marriott-hotel-in-burbank-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marriott Hotel in Burbank Changes Hands\" \/>\n<meta property=\"og:description\" content=\"Apple Hospitality REIT Inc. has closed on its previously announced acquisition of the 190-key Courtyard by Marriott in Burbank.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/marriott-hotel-in-burbank-changes-hands\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-14T18:24:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-14T10:06:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Courtyard-Los-Angeles-Burbank-Airport.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-hotel-in-burbank-changes-hands\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-hotel-in-burbank-changes-hands\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Marriott Hotel in Burbank Changes Hands\",\"datePublished\":\"2015-08-14T18:24:51+00:00\",\"dateModified\":\"2020-05-14T10:06:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-hotel-in-burbank-changes-hands\\\/\"},\"wordCount\":207,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-hotel-in-burbank-changes-hands\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/08\\\/Courtyard-Los-Angeles-Burbank-Airport.jpg\",\"articleSection\":[\"Los Angeles\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-hotel-in-burbank-changes-hands\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-hotel-in-burbank-changes-hands\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/marriott-hotel-in-burbank-changes-hands\\\/\",\"name\":\"Marriott Hotel in Burbank Changes Hands - 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