Houston’s Humble Oil Building, which houses a 191-room Courtyard by Marriott and a 171-room Residence Inn, will get a third Marriott-branded hotel after RLJ Lodging Trust acquired the downtown property.
RLJ, which paid $79.5 million for the complex, will convert the site’s 82 apartments into a 166-room SpringHill Suites hotel that’s slated to open in 2015.
RLJ, which owns 147 hotels totaling about 22,000 rooms, also said Wednesday that it is looking to raise about $285 million for potential acquisitions, through a public offering of 13.8 million shares.
The Bethesda, Md.-based real estate investment trust has 105.6 million shares outstanding.
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