"We are pleased with the sale of the Hampton Inn in Chester, especially in this tough economic environment, as it is consistent with the Company's strategy of selectively pruning our hotel portfolio and focusing on investing in certain premium limited service and upscale hotel assets," says Winston CEO Joseph Green. "We plan to use the net proceeds to pay down our debt, as we continue to consider investment opportunities in mezzanine debt and hotel assets, through various joint venture relationships that meet our investment objectives."

Winston focuses on development, acquisition, repositioning and active asset management of premium limited-service, upscale extended-stay and full-service hotels. Its portfolio currently comprises 44 wholly owned properties with 6,141 rooms; a 49% ownership interest in three joint venture hotels with 453 rooms, a 50% ownership interest in two joint venture hotels with 215 rooms, and, a mezzanine financing interest in three hotels with 391 rooms.