RLJ Lodging Trust (NYSE: RLJ), a real estate company led by Black Entertainment Television (BET) founder Robert L. Johnson, has acquired the long-term leasehold interest in the Courtyard by Marriott Waikiki Beach for $75.3 million.

The hotel is located on Honolulu, Hawaii, and will allow RLJ to expand its footprint into the market. The hotel has 399 rooms.

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