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RLJ Lodging Trust Acquires Moxy Denver Cherry Creek Hotel for $51.3 Million

January 10, 2022

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RLJ Lodging Trust (NYSE: RLJ) today announced that it has acquired the 170-room Moxy Denver Cherry Creek for a purchase price of $51.3 million, or approximately $301,000 per key and completed the disposition of the 764-room DoubleTree Hotel Metropolitan New York City for gross proceeds of $169.0 million.

“We are pleased to acquire the recently built Moxy Cherry Creek Hotel, located within the heart of the exclusive Cherry Creek submarket of Denver, which is expected to generate outsized growth for years to come. In 2021, we successfully acquired three high-quality hotels in top growth markets for nearly $200 million, which will enhance our growth profile throughout this cycle,” commented Leslie D. Hale, President and Chief Executive Officer.

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