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Correction: Downtown Courtyard Hotel Not Being Sold

Contrary to a prior report, the 245-room Courtyard San Diego Downtown hotel is not for sale and is not under contract to be acquired by Richmond, Va.-based Apple Hospitality REIT.

A spokesman for the downtown hotel’s current owner – Pennsylvania-based Hersha Hospitality Trust, which acquired the hotel in 2013 – said the company has no interest in selling the property and it is not being marketed for sale.

A previous Business Journal report, published online Aug. 13, was based on erroneous data from research firm Real Capital Analytics Inc., which cited information from a recent public filing and news release issued by Apple Hospitality REIT.

The actual property under contract for sale is the 245-room Courtyard by Marriott at 8651 Spectrum Center Blvd. in Kearny Mesa, according to a spokeswoman for that property’s current owner, Huntington Group of Irving, Texas.

Apple Hospitality announced on Aug. 6 that it was under contract to acquire a 245-room Courtyard by Marriott hotel in San Diego for $56 million, but did not list an address. A spokesman for Real Capital Analytics said its listing of the downtown address – 530 Broadway – was based on the room count provided by Apple Hospitality but not confirmed through other sources.

A spokeswoman for Apple Hospitality confirmed via email on Aug. 14 that the real estate investment trust is under contract to purchase a Courtyard property in San Diego, but it is not the downtown hotel. She would not disclose the full name or address of the Courtyard that is under contract, citing a confidentiality agreement with the seller.

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