Innkeepers USA Trust
, 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.