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Homewood Suites by Hilton in Billerica, Massachusetts – Image Credit Hilton
Chatham Lodging Trust has finalized the sale of the 147-suite Homewood Suites by Hilton located in Billerica, Massachusetts. The transaction was completed for $17.4 million. The hotel, which is 27 years old, was initially scheduled for a $6 million renovation in 2025, but the project was not undertaken due to the pending sale.
The Homewood Suites in Billerica was projected to have the third-lowest revenue per available room (RevPAR) within Chatham’s portfolio and was expected to generate approximately $1 million in net operating income in 2025. The sale of the property equates to a capitalization rate of about 4 percent.
This transaction is part of Chatham Lodging Trust’s broader strategy and marks the sixth hotel sale since December 2024; the cumulative proceeds from these sales total approximately $100 million. When considering near-term capital expenditures, the aggregate sale price across these transactions implies an approximate capitalization rate of 6%.
Chatham Lodging Trust is a real estate investment trust that owns 33 hotels with a total of 5,021 rooms and suites across 15 states and the District of Columbia.
