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WAYNE, PA-Dallas-based Wyndham International Inc. sells the 229-room Wyndham Valley Forge Suites here for $28.3 million. Under a franchise agreement with the new owner, a locally based group led by Valley Forge Investment Corp. and SCP Private Equity Partners, this facility remains in the Wyndham-branded portfolio for 20 years.

Wyndham spokesperson Darcie Brossart says this is one of three Wyndham-branded properties her company sold this year and the only one of them to retain its brand under a franchise agreement. The others continue to be managed by Wyndham. She tells GlobeSt.com, “there are a handful of Wyndham-branded properties that we are selling for a variety of reasons that have nothing to do with performance, and this is one of them. The Valley Forge property is very strong.”

The “handful” is not among the 33 properties that do not carry the Wyndham brand and are up for sale. Net proceeds from the Valley Forge disposition will be used to pay down debt. During the first half of 2003, Wyndham sold 13 hotel and two non-hotel assets for gross proceeds of $136 million.

“Our asset disposition program continues to move forward with success as we continue to sell all non-proprietary assets as well as strategic Wyndham-branded properties that remain in our portfolio pursuant to new management and franchise agreements,” says Fred J. Kleisner, Wyndham’s chairman and CEO. He says the company’s “disposition pipeline is strong.”

Valley Forge is a five-story, atrium-style building in Chesterbrook Corporate Center. It has eight meeting rooms encompassing an aggregate 5,000 sf. Amenities include an indoor pools and a hiking/jogging trail.

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