Innkeepers USA Trust (KPA Quote), a hotel real estate investment trust, agreed to be acquired by an affiliate of Apollo Investment Corp. for $17.75 a share.
Excluding debt that will be assumed, the deal is worth around $800 million. Innkeepers owns hotels branded Residence Inn, Summerfield Suites and Hampton Inn. Shares of Innkeepers were higher by 8.5% Monday at $17.85.- Loading Comments...
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