Hotel AG Negotiates Contract for Baton Rouge SpringHill Suites
ATLANTA, GA, May 11, 2009 - Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated a Purchase and Sale Agreement for the SpringHill Suites currently under construction in Baton Rouge, Louisiana on behalf of Viking Hospitality. The 119-room property will be sold to Apple REIT for an undisclosed amount and will be managed by Prism Hotels & Resorts.
"The signing of the Purchase and Sale Agreement was very timely for both the buyer and the seller," Keith Thompson, principal of Hotel AG remarked. "Both parties are anticipating the closing to occur around the end of June 2009."
The hotel will be well situated in the Baton Rouge market and will consist of 119 guest rooms and offer all the amenities and services of a newly built SpringHill Suites.
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