Although the hotel has undergone $9 million in renovations,including refurbishment of all 250 guestrooms, HEI plans to investan additional $6 million in renovations over the next two years.Its efforts will focus on the meeting space and outdoor courtyard."Following completion of our planned renovation, we will expand thehotel's sales efforts to encompass more group business, where wesee attractive upside potential," says Clark Hanrattie, SVP andchief investment officer of HEI.

The 12-story property contains more than 16,000 sf of meetingspace. This is HEI's seventh acquisition or development this year,which is in line with its announced plan in 2003 of investingbetween $400 million and $500 million a year, says Steve Mendell,EVP of acquisitions and development, in a statement. The companycontinues "to seek investment opportunities," he adds, indicatingthe focus is on "first-class, full-service hotels" in the top 50MSAs in the US.

In mid-November, HEI paid Starwood $89 million, or $307,958 perkey, for the Westin Philadelphia. This followed its Nov. 3acquisition of the 333-suite Embassy Suites Orlando-Lake BuenaVista Resort from Strategic Hotel Capital for $56 million.

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