On November 6, 2012, the Company increased the commitment on its revolving credit facility to $150 million. The increased revolving credit facility increases the capital the Company has available for future acquisitions and capital investments. The actual amount of borrowing capacity available under the facility depends on the value of the properties comprising the borrowing base that secure the credit facility.
The Company continues to actively acquire hotels, having closed the acquisition of nine hotels, totaling 1,141 rooms, with an average purchase price per key of $82,901 since September 30, 2012.
The hotels purchased include:
|Hyatt Place-Arlington||Dallas (Arlington), TX||127|
|Hyatt Place-Park Meadows||Denver (Lone Tree), CO||127|
|Hyatt Place-Denver Tech Center||Denver (Englewood), CO||126|
|Hyatt House-Denver Tech Center||Denver (Englewood), CO||135|
|Hyatt Place-Owings Mills||Baltimore (Owings Mills), MD||123|
|Hyatt Place-Lombard||Chicago (Lombard), IL||151|
|Hyatt Place-Phoenix||Phoenix, AZ||127|
|Hyatt Place-Scottsdale||Scottsdale, AZ||127|
|Hilton Garden Inn - Fort Worth||Fort Worth, TX||98|