Ascott splurges $81.5m on Silicon Valley hotel acquisition

It will renovate the 136-unit hotel.

The Ascott Limited (Ascott) poured $81.5m into the acquisition and renovation of The Domain Hotel in Silicon Valley, California.

According to a press release, the 136-unit hotel will continue to operate as the refurbishment will come in phases. The hotel will be rebranded to Citadines Cupertino Sunnyvale in Q4 next year.

The property is Ascott's fourth acquisition in the US within five months.

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