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Chatham Lodging Trust Announces Sale of Massachusetts Hotel
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Chatham Lodging Trust Announces Sale of Massachusetts Hotel
WEST PALM BEACH, Florida—Chatham Lodging Trust announced the closing of the sale of the 147-suite Homewood Suites by Hilton in Billerica, Massachusetts, for $17.4 million. An approximate $6 million renovation of the hotel was planned for 2025, but the project was not completed due to the pending sale. The hotel was projected to have the third-lowest RevPAR in the portfolio and earn approximately $1 million of net operating income in 2025, thus e…
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