Crestline Capital Corporation sells hotel to RLJ Development for $26 million.

In addition to its guest rooms, the hotel also offers 2,453 sf of meeting and conference room space. "This hotel has performed exceptionally well since we opened it in December of last year," company Executive Vice President and CFO James L. Francis notes in a statement on the sale. "We believe that downtown limited-service properties with an excellent brand provide very strong returns." Francis adds that Crestline, which will continue to manage the property under its subsidiary Crestline Hotels & Resorts, Inc., is "exploring all strategic options available for efficiently redeploying our capital and maximizing shareholder value.