Wachovia analyst Jeffrey Donnelly downgraded his ratings for Strategic Hotels & Resorts Inc. and Ashford Hospitality Trust Inc. to “Underperform” and lowered his ratings on Host Hotels & Resorts Inc., FelCor Lodging Trust Inc. and Diamondrock Hospitality Co. to “Market Perform.” A Wachovia Capital Markets analyst cut his ratings for five lodging companies on Thursday, [...]
Five Arizona hotels, including Tucson El Conquistador Golf & Tennis Resort and the Arizona Biltmore Resort & Spa in Phoenix, will be sold in a $6.6 billion national deal that ranks as one of the largest hotel transactions this decade.
CNL Hotels & Resorts Inc. of Orlando is liquidating its assets, and eight of its most [...]
CNL Hotel & Resorts Inc., the nation’s second-largest hotel real estate investment trust, said Friday it agreed to be bought in two separate deals worth about $5.53 billion combined.
Orlando-based CNL said Morgan Stanley Real Estate would pay about $3.13 billion, or $20.50 per share, in cash. Including assumed debt, the total transaction is valued at [...]
Ashford Hospitality Trust, Inc. :
Acquisition Highlights:
* Comprised of 24 full-service, upper-upscale hotels and 27 premium select-service hotels in 31 markets across 18 states, the District of Columbia and Canada
* Significantly diversifies Ashford’s asset portfolio in terms of geography, brand and management company mix
* [...]
Ashford Hospitality Trust Inc., a real estate investment trust focused on hotel properties and mortgages, said Friday it is purchasing a 51-hotel portfolio from CNL Hotels & Resorts Inc. for $2.4 billion in cash.
The deal is in connection with Morgan Stanley Real Estate’s acquisition of CNL for about $3.13 billion, or $20.50 per share in [...]
Ashford Hospitality Trust Inc. plans to buy a 51-hotel portfolio from Morgan Stanley Real Estate for $2.4 billion in cash.
The hotels are being purchased in connection with Morgan Stanley’s purchase of CNL Hotels and Resorts, a public, nonlisted hotel real estate investment trust based in Orlando, Fla.
The deal is expected to close in [...]
