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Wyndham Sells Hotel for $28M and Retains 20-Year Franchise

WAYNE, PA-The Wyndham Valley Forge Suites is one of three Wyndham-branded properties the owner has sold this year. While the other two remain under Wyndham management, this facility keeps its name under management by the new owner.

By Marita Thomas | Updated on September 19, 2003

WAYNE, PA-Dallas-based Wyndham International Inc. sells the 229-room Wyndham Valley Forge Suites here for $28.3 million. Under a franchise agreement with the new owner, a locally based group led by Valley Forge Investment Corp. and SCP Private Equity Partners, this facility remains in the Wyndham-branded portfolio for 20 years.

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.

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