Equity Inns Finalizes Purchase of Three Marriott Branded Hotels; Closes Sale of Exterior Corridor Hampton Inn in Chapel Hill, N
April 25 2006 - 6:00AM
Business Wire
Equity Inns, Inc. (NYSE: ENN), the third largest hotel real estate
investment trust (REIT), today announced the closing of the
remaining three of the five hotel acquisitions previously announced
on December 19, 2005. The Company completed the purchase of the
112-room Courtyard by Marriott in Orlando (Maitland), Florida, the
78-room Residence Inn in Tampa, Florida, and the 66-room Residence
Inn in Mobile, Alabama. The combined purchase price for the three
hotels was $27.3 million. The Company also announced the sale of a
122-room exterior corridor Hampton Inn in Chapel Hill, North
Carolina, for approximately $5.3 million to an unrelated third
party. About Equity Inns Equity Inns, Inc. is a self-advised REIT
that focuses on the upscale extended stay, all-suite and midscale
limited-service segments of the hotel industry. The Company, which
ranks as the third largest hotel REIT based on number of hotels,
currently owns 126 hotels with 14,971 rooms located in 36 states.
For more information about Equity Inns, visit the Company's Web
site at www.equityinns.com.
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