Lodgian Sells Hotels
Lodgian, Inc. , one of the nation’s largest independent owners and operators of full-service hotels, today announced it had sold the 202-room Holiday Inn hotel in Ft. Wayne, Ind. and the 159-room Holiday Inn in Bridgeport, W. Va. to undisclosed buyers in separate transactions for an aggregate price of $5.6 million. Proceeds will be used for general corporate purposes.
HREC Investment Advisors represented Lodgian in both transactions. “Our disposition program, which was announced in November 2006, continues as planned,” Ed Rohling, chief executive officer of Lodgian. “We now have sold 22 of the 27 non-core hotels designated in the program, have an additional three properties under contract and two hotels being actively marketed.” Read more