RLJ Lodging Trust has purchased the leasehold agreement for the 399-room Courtyard by Marriott Waikiki Beach for $75.3 million.

The acquisition is the Maryland-based company’s first in Hawaii and expands its portfolio to 148 hotels and 22,300 guestrooms across 22 U.S. states and the District of Columbia.

“We are excited to increase our presence in the West and expand our geographic footprint into another gateway market,” Thomas Baltimore, RLJ Lodging’s president and CEO, said in a statement.
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