Chatham Lodging Trust has acquired the 231-room Residence Inn by Marriott Seattle Bellevue/Downtown for $71.8 million. The hotel, which opened in 2008, features custom furnishings, original artwork, a pool, fitness center, meeting space, and a Microsoft game room. The property is less than four miles from Microsoft’s 300-acre corporate park in Redmond and is close to the headquarters of other corporations such as Amazon, Expedia, T-Mobile, and AT&T.
“We are very excited to acquire one of the highest-rated hotels in the Residence Inn by Marriott system, a superior quality property on an urban infill site in one of the most desirable West Coast corporate markets,” says Chatham CEO Jeffrey Fisher. “This hotel aligns perfectly with our strategy of acquiring coastal-area hotels where demand is driven primarily by corporate travelers focused in the ever-growing technology, energy, or medical sectors.”
