acquisitions and dispositions
Summit Hotel Properties Completes Sale of Six Hotels for $135 Million
Summit Hotel Properties | April 18, 2019
AUSTIN, Texas, April 18, 2019 -- Summit Hotel Properties, Inc. reported today that it has completed the disposition of six hotels totaling 815 guestrooms for an aggregate gross sales price of $135.0 million which resulted in an estimated net gain of $36.6 million. The portfolio of six hotels sold included: The aggregate gross sales price of $135.0 million, plus estimated future capital improvements, represented a 12.8x EBITDA multiple and 6.9 percent capitalization rate for the trailing twelve months ended March 31, 2019. The Company estimates that the hotels would have contributed approximately $9.5 million of EBITDAre through the rem...
Goulston & Storrs Names John Ratino Co-Chair of Hospitality & Recreation Group
Goulston & Storrs | July 24, 2013
Washington, DC – July 26, 2013 – Goulston & Storrs is pleased to announce that John Ratino has been named co-chair of the firm's Hospitality & Recreation group. In June 2013, Goulston & Storrs' Hospitality & Recreation group was recognized by Chambers USA: America's Leading Lawyers for Business for extraordinary client service and ranked nationally in the Leisure & Hospitality category by the well-regarded legal directory. One client noted in Chambers' published results, "they really understand us which enables us to move expeditiously and not have to bring them up to speed on deals." The expansion of the group w...
