Arlington Hospitality already has sold eight AmeriHost Inn hotels for $22.9 million and has one more under contract, putting the company about one-third of the way toward its goal of pruning at least 25 properties in a portfolio that includes 57 hotels. "We are moving forward rapidly and as prudently as possible," Herman says.
However, the company announced during its third-quarter earnings report that it has begun building a 79-room AmeriHost Inn hotel in Weirton, WV with a joint venture partner and is planning construction of hotels in California; Lansing, MI and Columbus, OH.
"Our goal is to reach a level of developing 10 to 15 hotels a year by the end of 2005, primarily in larger markets, particularly in the Midwest where the AmeriHost brand has high consumer awareness, and in California," Herman says.
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