AMARILLO - American Hotel Income Properties REIT LP has acquired three Amarillo hotels for an aggregate purchase price of $31.4 million, or approximately $107,000 per room.
The 293-guestroom portfolio includes:
— Holiday Inn Amarillo West Medical Centre hotel;
— Fairfield Inn & Suites Amarillo Airport hotel; and
— Sleep Inn & Suites West Medical Centre hotel.
The properties are all less than five years old and situated on the I-40 corridor between Oklahoma City and Albuquerque and the US-287 corridor between Dallas and Denver.
The properties cater primarily to corporate travelers seeking select-service lodging.
The hotels will be managed by Tower Rock Hotels & Resorts Inc.
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