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Sunburst Acquires Arlington Hospitality Assets for $21M

ARLINGTON HEIGHTS, IL-Silver Springs, MD-based Sunburst Hospitality Development Inc. is expanding its 30-hotel portfolio with the purchase of Arlington Hospitality Assets. Arlington filed for Chapter 11 bankruptcy protection this summer.

By Dana Dubriwny | Updated on October 31, 2005

ARLINGTON HEIGHTS, IL-The US Bankruptcy Court for the Northern District of Illinois ruled that Silver Springs, MD-based Sunburst Hospitality Development Inc. has qualified as the “stalking horse” bidder for the bulk of Arlington Hospitality Inc.’s assets. Sunburst, with interests in hotels, golf course and residential developments, multifamily communities and self-storage properties, will purchase a number of Arlington assets for approximately $21.3 million. Arlington filed for Chapter 11 bankruptcy protection this summer.

According to the agreement, Sunburst will purchase Arlington’s rights in certain contracts, leases and agreements, including the development agreement, royalty sharing agreement and some individual hotel franchise agreements. The purchase includes 10 wholly owned hotels, ownership interests in four hotel joint ventures and AmeriHost Inn properties, which are franchised by Cendant Corp. Currently, Sunburst Hospitality’s hotel portfolio includes 30 hotels with approximately 4,500 rooms in 16 states.

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