WEST PALM BEACH, Florida—Chatham Lodging Belief introduced the closing of the sale of the 147-suite Homewood Suites by Hilton Billerica, Massachusetts, for $17.4 million. An approximate $6 million renovation of the lodge was deliberate for 2025, however the mission was not accomplished as a result of pending sale. The lodge was projected to have the third-lowest RevPAR within the portfolio and earn roughly $1 million of internet working earnings in 2025, thus equating to a capitalization fee of roughly 4 %.
This sale marks the sixth lodge offered since December 2024, producing proceeds of roughly $100 million. Together with near-term capital expenditures, the mixture worth equates to an approximate six % capitalization fee.
