Equity Inns Completes Purchase of Two Hotels
March 07 2007 - 6:00AM
Business Wire
Equity Inns, Inc. (NYSE: ENN), the third largest hotel real estate
investment trust (REIT), announced that on March 1, 2007 the
Company finalized its purchase of the 104-room SpringHill Suites by
Marriott and the 122-room Hilton Garden Inn in the Austin, Texas
suburb of Round Rock for a total of $16.3 million, or $72,000 per
key from partnerships controlled by LinGate Hospitality. 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 131 hotels with 15,592 rooms located in 35 states.
For more information about Equity Inns, visit the Company's Web
site at www.equityinns.com. Forward Looking Statements Certain
matters discussed in this press release which are not historical
fact are �forward-looking statements� within the meaning of the
federal securities laws and involve risks and uncertainties. The
words �may,� �plan,� �project,� �anticipate,� �believe,�
�estimate,� �forecast,� �expect,� �intend,� �will,� and similar
terms are intended to identify forward-looking statements, which
include, without limitation, statements concerning our outlook for
the hotel industry, acquisition and disposition plans for our
hotels and assumptions and forecasts of future results for fiscal
year 2007. Forward-looking statements are not guarantees of future
performance and involve numerous risks and uncertainties which may
cause our actual financial condition, results of operations and
performance to be materially different from the results of
expectations expressed or implied by such statements. General
economic conditions, future acts of terrorism or war, risks
associated with the hotel and hospitality business, the
availability of capital, risks associated with our debt financing,
hotel operating risks and numerous other factors, may affect our
future results and performance and achievements. These risks and
uncertainties are described in greater detail in our 2006 Annual
Report on Form 10-K filed on February 28, 2007, and our other
periodic filings with the United States Securities and Exchange
Commission (SEC). We undertake no obligation and do not intend to
publicly update or revise any forward-looking statement, whether as
a results of new information, future events or otherwise. Although
we believe our current expectations to be based upon reasonable
assumptions, we can give no assurance that our expectations will be
attained or that actual results will not differ materially.
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