This brings to 14 the number of hotels sold by the company year to date, with 2,586 rooms, for total proceeds of $122.4 million, or $47,000 per room. The sales are part of a previously announced plan to dispose of non-core hotel properties and reshape the company's portfolio. Proceeds from the sales may be used to reinvest in the company's core properties, for hotel acquisitions, or to repay senior debt.
"We continue to make excellent progress on the sale of our non-core assets and are on target with the timeline we previously announced," said Paul W. Whetsell, chairman and chief executive officer. "We expect to close on 10 to 12 additional properties by the end of January."
The seven hotels include four hotels in the U.S., each sold to a separate buyer, and three Canadian properties, which were sold as a portfolio to a single buyer. The properties are:
Hotel Name # of Rooms Location
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Radisson Schaumburg 200 Schaumburg, Ill.
Radisson Rochester 171 Rochester, N.Y.
Crowne Plaza Portland 161 Portland, Ore.
Hotel Dallas (formerly Radisson) 304 Dallas, Texas
Holiday Inn Calgary Airport 170 Calgary, Alberta
Holiday Inn Metrotown 100 Vancouver, B.C.
Ramada Vancouver 118 Vancouver, B.C.
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Total rooms 1,224
Arlington, Va.-based MeriStar Hospitality Corporation owns 93 principally upscale, full-service hotels in major markets and resort locations with 24,995 rooms in 23 states, the District of Columbia and Canada.
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