According to today's SEC filing, the Chicago-based Walton put up$11 million in earnest money for the collection. The assets are the228-key Fairmont Sonoma Mission Inn & Spa at 100 Boyes Blvd.and Sonoma Golf Club at 17700 Arnold Dr., both in Sonoma, CA;60-room Ventana Inn & Spa at Highway 1 in Big Sur, CA; 190-keyPark Hyatt Beaver Creek Resort & Spa at 50 W. Thomas Place inAvon, CO; 375-key Omni Austin hotel at 700 San Jacinto Blvd. in theTexas capital's CBD, 613-room Denver Marriott hotel at 1701California St. in the Downtown; and 388-room Renaissance Houstonhotel at 6 E. Greenway Plaza.

The Fort Worth-based Crescent, the general partner and majorityowner in a series of partnerships that own the properties, reportsit will bank about $510 million in gross proceeds when the dealcloses. The due diligence period ends March 26. The filing did notinclude an anticipated closing date, other than it will be done inthe second quarter. Crescent could not be reached for comment bypress time, but its past practice is not to discuss pendingtransactions.

When the deal closes, Crescent's only hospitality holdings willbe the Canyon Ranch flag. In its last earnings call, Crescent'svice chairman and CEO John Goff said all options were beingconsidered for the brand and its two locations. The 259-keyflagship and brand's corporate headquarters is Canyon Ranch at 8600E. Rockcliff Rd. in Tucson and its sister resort, Canyon Ranch is a212-key property at 165 Kemble St. in Lenox, MA.