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Hotel Commonwealth Sells for $136M

Boston Hotel

Xenia Hotels & Resorts has a deal in place to purchase Boston’s Hotel Commonwealth for $136M. Owner Sage Hospitality bought the 149-room hotel two and a half years ago for $79M, which included developable land behind the property. The hotel is in the midst of adding a six-story wing with 96 rooms, reports the Boston Herald. RevPAR for the 12 months ended June 30 came in at $235. Greater Boston hotels are forecast for a 9% increase in RevPAR this year. [Herald]