Located off I-95 at 12610 Chestnut Hill Rd., the Hampton Inn first opened its doors in April of 1994. Winston added Hampton Inn Chester to its portfolio later that same year in a package acquisition of five hotels for a total of $31.7 million.
Winston plans to direct proceeds from the recent sale to paying down its debt. "We are pleased with the sale of the Hampton Inn in Chester, especially in this tough economic environment, as the sale is consistent with the company's strategy of pruning our hotel portfolio selectively and focusing on investing in certain premium, limited-service and upscale hotel assets," Winston CFO Joseph Green explains.
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