"We noted at the time of our agreement to acquire the 51-hotelportfolio, that de-leveraging our balance sheet would be a priorityfor us," Monty J. Bennett, president and CEO of the Dallas-basedAshford, says in a press release. "In anticipation of thistransaction, we've put in motion various de-leveraging strategiesincluding single asset sales, portfolio sales and joint ventures.We monitor our portfolio and select assets for sale based upongrowth prospects, portfolio allocation, shift in capital markets,capital expenditure requirements and opportunity costs." Calls toAshford were not returned by press time.

The properties on the block include a portfolio of seven TownePlace Suites. Also in the mix are Embassy Suites in West PalmBeach, FL and Phoenix; Fairfield Inns in Evansville and Princeton,IN; and Radisson Hotels at the Indianapolis Airport in Indianapolisand Covington, KY. The already sold and held for sale propertiesinclude the Doubletree Guest Suites in Dayton, OH, Hampton Inn inHorse Cave, KY, Marriott Trumbull in Trumbull, CT and Sheraton IowaCity in Iowa City, IA. Office buildings adjacent to the Hilton FortWorth also are part of the portfolio.