Warren Hotel Sells for $5.4 Mil

WARREN, MI- RFS Hotel Investors REIT has sold the Hampton Inn for $5.4 million, realizing a $2 million profit.

By Robert Carr | October 31, 2000 at 01:01 AM

The 124-room hotel was bought by the company in 1994 for $3.4 million, andproduced a 22 percent return on investment, say RFS officials.The company is a real estate investment trust that owns 60 hotels with about8,700 rooms in 24 states.

The sale of the limited service hotel helped the company enrich itsportfolio, raising the level of full service hotels to 43 percent of leaserevenues, the company said.

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