MeriStar Sells San Diego Holiday Inn Select

SAN DIEGO, CA-In a move designed to increase its financial flexibility and liquidity, Washington, DC-based MeriStar Hospitality Corp. has sold a Holiday Inn Select in San Diego to an undisclosed buyer. Located at 595 Hotel Circle South, the property contains 317 guest rooms.

The sale of the San Diego Holiday Inn Select falls in line with MeriStar’s plan of selectively pruning non-core assets from its portfolio, according to Paul W. Whetsell, the company’s chairman and chief executive officer. He explains that the Holiday Inn deal was Meristar’s fifth such transaction for 2002, adding that the proceeds will “further enhance” the company’s financial structure.