Corporate Profile and History
Apple REIT Nine, Inc. is a public, non-listed real estate investment trust (REIT) focused on the acquisition and ownership of income-producing real estate that generates attractive returns for our shareholders. Our hotels operate under the Courtyard® by Marriott®, Fairfield Inn® by Marriott®, Fairfield Inn & Suites® by Marriott®, Residence Inn® by Marriott®, SpringHill Suites® by Marriott®, TownePlace Suites® by Marriott®, Marriott®, Embassy Suites Hotels®, Homewood Suites by Hilton®, Home2 Suites by Hilton®, Hilton Garden Inn®, Hampton Inn®, Hampton Inn & Suites® and Hilton® brands. As of October 31, 2011, our portfolio consisted of 88 hotels with 11,251 guestrooms in 27 states and 110 parcels of land leased to a third party.
Apple REIT Nine, Inc. was formed on November 8, 2007 and began fundraising on April 25, 2008. Hotel operations formally began on July 31, 2008, with the acquisition of the Company’s first hotel, a 125-room Hilton Garden Inn® in Tucson, Arizona. From April 25, 2008 until December 9, 2010, the Company, through a public offering of shares managed by David Lerner Associates, Inc., a New York-based investment firm, raised its $2 billion goal of equity capital gross proceeds. The Company has been diligently acquiring properties and our portfolio consists of 88 hotels, with 11,251 guestrooms, in 27 states and 110 parcels of land leased to a third party.
The company was formed by Glade M. Knight, Chief Executive Officer and Chairman of the Board. Mr. Knight has been involved in the management of and investment in real estate ventures for more than 38 years. He is also the Chairman and CEO of Apple REIT Six, Inc., Apple REIT Seven, Inc., Apple REIT Eight, Inc. and Apple REIT Ten, Inc.