Pebblebrook Hotel Trust has bought Gurney’s Newport Resort & Marina in Rhode Island for $174.0 million.

Gurney’s Newport features 257 guestrooms, including 18 spacious suites and 80,000 square feet of event space.

“We are very excited to acquire this unique premier resort within the vibrant, high barrier to entry Newport market,” said Jon E. Bortz, CEO of Pebblebrook Hotel Trust. “With group and individual travelers increasingly seeking a unique resort experience with open-air amenities, Gurney’s Newport is well-positioned to continue to grow in the attractive Newport market.”