The terms of the loan on the property provide the owner with theoption of borrowing additional funds. "This acquisition provides astrong initial return with upside through continued improvement inoperating performance and helps further diversify our portfolio bybrand, market and segment," says Ashford Hospitality president andCEO Monty J. Bennett.

Situated in a business park under a mile away from the BaltimoreWashington International Airport, SpringHill Suites carries anaddress in Linthicum, which is just outside of Baltimore. Theall-suite property features 1,100 sf of meeting space, as well asan exercise facility. The hotel opened in 2001 and marked theentrée of the SpringHill suites brand in the Baltimore/Washingtoncorridor. An affiliate of the Buccini/Pollin Group, PM HospitalityStrategies, had been serving in the role of property manager; thefirm will continue to do so for a three-year term on behalf of thenew owner.