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Hospitality Properties Trust picks up Ore. hotel for $114M

Hospitality PropertiesTrust purchased the 221-room Kimpton Hotel Monaco in Portland, Ore.,March 16.

The full-service lifestyle hotel was picked up for a purchaseprice of $114.0 million, excluding acquisition-related costs.

The company said in an earnings release that it added the hotelto its management agreement with InterContinental Hotels Group plc.