The real estate investment trust (REIT) formed by Black Entertainment Television founder Robert L. Johnson, RLJ Lodging Trust (NYSE: RLJ), has acquired an Atlanta hotel for $49.5 million.

The hotel, the Hyatt Atlanta Midtown, has 194 rooms. The hotel reopened in 2013 after a renovation.

RLJ has made several other recent hotel acquisitions. In June, the group picked up the Hilton Cabana Miami Beach for $71. 6 million. Before that, in May, RLJ paid $120 million to buy two hotels – the Courtyard Portland City Center and the Embassy Suites Irvine Orange County. In June 2013, the group announced a deal for the Courtyard by Marriott Waikiki Beach for $75.3 million.   


Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.