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Sotherly Hotels Inc Announces Acquisition of Houston Property

Thursday, 14 Nov 2013 05:04pm EST 

SoTHERLY Hotels Inc announced that the Company has acquired the entity which owns the Crowne Plaza Houston Downtown Hotel (the "Hotel") for $30.65 million in cash and 32,929 units of limited partnership interests in Sotherly Hotels LP, plus an additional cash amount for the Hotel's working capital as of the closing date. The 259-room, upscale, full-service hotel is located in downtown Houston, Texas. The property will be managed by Chesapeake Hospitality. 

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2 Oct 2015