Chesapeake Lodging Trust CHSP (the "Trust") announced today that it
has closed on the previously announced acquisition of the newly developed,
185-room Hyatt Place New York Midtown South located in New York, New York for
a purchase price of $76.2 million, or approximately $412,000 per key. The
Trust entered into an agreement with Real Hospitality Group, the operator of
the Trust's other hotel in New York located in Midtown on 31^st Street, to
manage the hotel.
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