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CNL Hotels & Resorts Inc. to Postpone Initial Public Offering |
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Due to market conditions, CNL Hotels & Resorts, Inc., the nation's second-largest hotel real estate investment trust, has determined that it is appropriate to postpone its firm underwritten offering and listing. |
In light of this decision, the company is evaluating the treatment of previously accrued transaction costs related to its second quarter earnings, which will likely result in the write-off of some or all of these expenses.
About CNL Hotels & Resorts, Inc.
CNL Hotels & Resorts, Inc. is the nation's second-largest hotel REIT. The company owns and manages one of the most distinctive portfolios in the lodging industry. With a focus on luxury and upper upscale hotels and resorts, the $6 billion portfolio includes more than 130 hotels and resorts across North America that operate under both independent and corporate brands such as Marriott, Hilton and Hyatt.
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