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RLJ Lodging Trust's St. Petersburg, Fla., hotel sells for $189M

Hotel real estate investment trust RLJ Lodging Trust sold the 362-room Vinoy Renaissance St. Petersburg Resort & Golf Club in St. Petersburg, Fla., for a total consideration of $188.5 million.

The net proceeds from the sale have been set aside to pay down the remaining balance on the company's credit facility, as well as for general corporate purposes, according to a release.

The consideration breaks down to a contractual sales price of $185.0 million and the release of $3.5 million in member deposits.