So far, the seven sales have totaled $21 million, allowing Arlington Hospitality to cut its mortgage debt by $12.7 million. The Kenton, OH sale cut the company's debt load by $1.2 million.
Thompson Calhoun Fair is brokering the hotel sales, which included properties in Jacksonville, IL, and Martinsville, WV, during the second quarter.
"These sales demonstrate the continued attractiveness of our hotels to the hotel investment and ownership community, and the ongoing momentum of our company's plan to sell certain hotel assets," says president and chief executive officer Jerry H. Herman.
The sales leave American Hospitality with 66 properties in 17 states, including 58 AmeriHost Inn hotels, for a total of 4,820 rooms.
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