hospitality investors trust
LBA Hospitality to Manage Four New Properties in Jackson-Ridgeland, Mississippi for Hospitality Investors Trust
LBA Hospitality | May 4, 2017
LBA announces management of new properties in Jackson-Ridgeland, Miss DOTHAN, AL (May 4, 2017) – LBA Hospitality, a full-scale hotel management, development and consulting firm, is pleased to announce management of four properties based in Jackson-Ridgeland, Miss. The four hotels, which are branded either Marriott International, InterContinental Hotels Group, or Hilton Hotels & Resorts, were acquired by Hospitality Investors Trust, and will now be operated and managed by LBA Hospitality. With the addition of these four new properties, LBA Hospitality now manages over 65 properties throughout the southeast. The properties inclu...
Hospitality Investors Trust Acquires Seven Hotels from Summit Hotel Properties for $66.8 Million
Hospitality Investors Trust | May 1, 2017
NEW YORK, May 1, 2017 -- Hospitality Investors Trust, Inc ("HIT REIT" or the "Company") announced today that it has successfully refinanced two loans and, simultaneously, completed the acquisition of seven hotels pursuant to its previously announced purchase agreement with Summit Hotel Properties, Inc. ("Summit") (the "Summit Portfolio"). The new loans, which total approximately $1.225 billion, each carry a two-year initial term with three one-year extension options subject to conditions, and consist of: (i) A mortgage loan and related mezzanine loans with an aggregate principal balance of $915.0 ...
