AUSTIN--Summit Hotel Properties has added anddeducted one hotel each from its portfolio.
The Austin-based REIT has acquired a Hilton GardenInn in Houston—its second in the city—and the sold aHampton Inn hotel located in Fort Smith, Ark.
“We are very pleased with the acquisition of our second propertyin the Houston market,” said president and CEO DanHansen. “This high-yielding asset in a market withmultiple demand generators makes it a perfect addition to ourportfolio. We see great opportunity for our asset management teamto create additional value through operational improvements andbelieve this asset will create tremendous near-term and long-termshareholder value.”
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