These are among 18 management contracts Equity Inns reassigned by Equity Inns on Jan. 1. The company announced Jan. 8 an agreement with Hilton Hotels Corporation to manage the other 16 hotels. These are Hilton- branded properties. According to company officials, the reassignment is possible because REITs now have greater control of their properties through REIT subsidiaries.
Equity Inns Inc., which owns 96 hotels in 34 states, is a self-advised REIT that focuses on the upscale extended stay, all-suite and mid-scale limited-service segments of the hotel industry. Crestline Hotels & Resorts manages and leases 34 hotels, resorts and conference and convention centers.
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