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News Breaks | | | | September 10, 2012 | | 17:23 EDT |  | EHP | Eagle Hospitality Properties Trust, Inc. looks to sell 13 hotels
Eagle Hospitality Properties Trust announced that it has reached an agreement with its secured lender that allows the company to sell its 13 premium-branded hotels and repay its secured debt at a discount. Eagle Hospitality will be considering offers from investors interested in some or all of the hotels in the portfolio. "The Embassy Suites, Hilton, Marriott and Hyatt-branded properties are experiencing excellent growth and are well-positioned in their markets," said Marc Beilinson, Managing Director of Beilinson Advisory Group and Eagle Hospitality's Chief Restructuring Officer. "Purchasers will have the flexibility to appoint their own management at 11 of the 13 properties without termination expense." | |
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