Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, VA-Seven hotel properties bring in proceeds totaling $31.5 million for MeriStar Hospitality Corp. Adhering to its corporate strategy of selling off non-core assets, the hotel REIT disposed of particular hotels accounting for over 1,200 rooms in Illinois, New York, Oregon, Texas and Canada. “We expect to close on 10 to 12 additional properties by the end of January,” MeriStar chairman and CEO Paul W. Whetsell says.

Among the US properties MeriStar opted to let go of are the seven-year-old, 200-room Radisson Schaumburg in Schaumburg, IL, with its 7,000 sf of meeting space; Rochester, NY’s 171-room Radisson Rochester, which was built in 1999 and has 11,000 sf of meeting space; the 14-year-old, 161-room Crowne Plaza Portland, which features 3,000 sf of meeting space and sits in Lake Oswego just outside of Portland; and the 30-year-old, 304-room Hotel Dallas and its 16,000 sf of meeting space. The remaining three properties are in Canada–the 170-room Holiday Inn Calgary Airport in Calgary, Alberta, and Vancouver, BC’s 100-room Holiday Inn Metrotown and 118-room Ramada Vancouver.

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?


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.