PRAGUE-Strategic Hotels & Resorts Inc., a Chicago-based real estate investment trust, has made an agreement with an affiliate of Houston-based Westmont Hospitality Group, which purchased Strategic's Renaissance Paris Le Parc Trocadero in December, to sell the InterContinental Prague for a total amount of $148.9 million.
The 372-room hotel is situated in the capital city of the Czech Republic. Strategic's plan to sell the hotel was to reduce its load of high debt. For the full story, go to Crain's Chicago Business.
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