CNL is putting up 30 of its 136 hotels as collateral for the $353-million loan, says CNL Hospitality CEO Thomas J. Hutchison III. CNL's $6.5-billion portfolio encompasses 32,500 rooms at 19 national recognized branded hotels in 37 states and Canada.
In the KSL deal, CNL acquired the 780-room Grand Wailea Resort & Spa on Maui, HI; the 796-room La Quinta Resort & Club and PGA West in La Quinta, CA; the 692-room Doral Golf Resort & Spa in Miami; the 738-room Arizona Biltmore Resort & Spa in Phoenix; the 279-room Claremont Resort & Spa in Berkeley, CA; and the 246-room Lake Lanier Islands Resort near Atlanta.
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