Fine Hotels Divests 855-Room Portfolio

WELLESLEY, MA-An 855-room hospitality portfolio stretching from mid-Maine to southeastern Massachusetts is being sold by Fine Hotels Corp., GlobeSt.com has learned. The five properties include the 225-room Holiday Inn Brookline, a full-service hotel located prominently on Beacon Street near Boston’s Fenway Park. Sources predict the sale of the package will eclipse $100 million.

Linchris Hotel Corp., another veteran Massachusetts lodging company, is buying the assets in a joint venture with Strategic Capital Partners of Chicago. Besides the Brookline operation, properties changing hands are the 227-room Hampton Inn Boston Logan Airport and the Holiday Inn at Mansfield/Foxboro in Mansfield, a 202-key full-service facility. The two Maine hotels are in the state’s capital, Augusta, near the Augusta Civic Center. Fine’s Comfort Inn Civic Center has 99 rooms while the adjacent Holiday Inn has 102 rooms.

“We’re excited about the opportunity to acquire this portfolio,” Linchris CEO Christopher Gistis tells GlobeSt.com in acknowledging his Hanover-based firm has committed to the deal, with a closing anticipated by the end of the month. Until then, Gistis says he cannot discuss specifics such as pricing, and efforts to obtain a precise figure were unsuccessful. Calls to Fine Hotels officials at the firm’s Wellesley headquarters were not returned by press deadline.