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Hospitality Properties Trust details property transactions


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Hospitality Properties Trust details property transactions

Hospitality Properties Trust in June picked up the 389-room Chase Park Plaza Hotel in St. Louis for $87.6 million and converted the hotel to the Royal Sonesta hotel brand, adding it to its management agreement with Sonesta International Hotels Corp.

The company also purchased the 495-room Crowne Plaza Ravinia hotel in Atlanta in June and the 419-room Crowne Plaza & Lofts hotel in Columbus, Ohio, in August, for $88.6 million and $49.0 million respectively, and added them to its management agreement with InterContinental Hotels Group Plc.

The company agreed to acquire 14 extended stay hotels with 1,653 suites in 12 states for $138.0 million in July. Hospitality Properties expects the transaction to be completed in the third quarter and plans to rebrand the hotels to Sonesta ES Suites and add them to its management agreement with Sonesta.

Hospitality Properties also plans to purchase the 300-room Crowne Plaza hotel in Charlotte, N.C., for $44.0 million. The acquisition should be completed during the third quarter, and the hotel will be added to the company's management agreement with InterContinental.

In addition, the company agreed to sell the 143-room Country Inn & Suites hotel in Naperville, Ill., for $6.6 million in July, with the sale expected to be closed in the third quarter.

In August, Hospitality Properties sold its 159-room Radisson hotel in Chandler, Ariz., for $9.5 million.