DALLAS-Wyndham International Inc. has the check and Sunstone Hotels and Westbrook Hotel Partners IV LLC have the deeds to two hotels in a $102.7-million deal as buyer and seller officially ink the trade. One is the Embassy Suites in Chicago and the other, Houston Greenspoint.

The closing completes all terms of an agreement reached in September for the sale of 12 non-proprietary assets and one Wyndham-brand holding that holds onto the flag under a 10-year franchise pact. A Dec. 5 closing brought the transfer of 11 hotels for $344.7 million. Sunstone Hotel Investors will manage the 13 properties.

Wyndham delivered a year-end closing on the package, just as it promised in September. Going forward, there are still 34 hotels left to hawk in Wyndham’s strategy to grow through branding rather than ownership. Another closing, it previously was intimated to GlobeSt.com could be coming in the first quarter. As with other such sales in today’s economy, all proceeds are being used to reduce debt. For previous story, click here.

Westbrook Hotel Partners IV is a newly formed entity of Westbrook Partners Real Estate Fund IV. Bear, Stearns & Co. Inc. and J.P. Morgan Securities Inc. served as Wyndham’s financial advisers.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.