Summit Hotel closes sale of six hotels, agrees to sell 10 more

|About: Summit Hotel Properties,... (INN)|By:, SA News Editor

The six hotels total 707 rooms and were sold to American Realty Capital Hospitality Trust for $108.3M. They're branded either by Marriott or Hilton, and located in Bellevue and Spokane, Washington, and Denver and Fort Collins, Colorado.

In addition to this deal, the two parties have reinstated a previously terminated agreement for Summit (NYSE:INN) to sell a portfolio of 10 hotels to ARC Hospitality. This sale should close late this year.

Source: Press release

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