The sale is part of Prime's ongoing strategy to sell off its real estate and use the proceeds to repurchase stock, retire debt and invest in the growth of its proprietary AmeriSuites and Wellesley Inn & Suites brands. According to the company, over the past 14 months it has generated $225 million from asset sales.
Prime Hospitality owns, manages, develops and franchises nearly 240 hotels throughout the country. In addition to its proprietary brands, the company's portfolio includes owned or managed hotels operated under franchise agreements with national hotels chains including Hilton, Radisson, Sheraton, Holiday Inn and Ramada.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
