Wyndham spokesperson Darcie Brossart says this is one of three Wyndham-branded properties her company sold this year and the only one of them to retain its brand under a franchise agreement. The others continue to be managed by Wyndham. She tells GlobeSt.com, "there are a handful of Wyndham-branded properties that we are selling for a variety of reasons that have nothing to do with performance, and this is one of them. The Valley Forge property is very strong."

The "handful" is not among the 33 properties that do not carry the Wyndham brand and are up for sale. Net proceeds from the Valley Forge disposition will be used to pay down debt. During the first half of 2003, Wyndham sold 13 hotel and two non-hotel assets for gross proceeds of $136 million.

"Our asset disposition program continues to move forward with success as we continue to sell all non-proprietary assets as well as strategic Wyndham-branded properties that remain in our portfolio pursuant to new management and franchise agreements," says Fred J. Kleisner, Wyndham's chairman and CEO. He says the company's "disposition pipeline is strong."