MIAMI—Chatham Lodging Group, a hotel REIT that focuses on acquiring both upscale, extended-stay hotels and premium-branded, select-service hotels, just grabbed two more. The hotel REIT acquired the 105-room Residence Inn Fort Lauderdale Intracoastal/ Il Lugano and the 81-room Residence Inn Boston.

Chatham grabbed the two hotels from Claremont Companies for $55.5 million. That's about $298,000 per room.

“Our outlook on the industry remains bullish, and we continue to find excellent opportunities to add properties that match our strategy of acquiring premium-branded, high-quality, in-fill hotels with high barriers to entry and growing demand in two of the country's strongest lodging markets,” says Jeffrey H. Fisher, Chatham's CEO and president. “The Residence Inn Fort Lauderdale Intracoastal/Il Lugano is an absolute gem of an asset located directly on the Intracoastal Waterway with stunning views in a rapidly growing area of South Florida that we believe will realize outsized growth over the next few years.