Fine divested the 227-room Hampton Inn Boston Logan Airport in Revere and a 202-room Holiday Inn and conference center in Mansfield. Fine's Comfort Inn and a Holiday Inn in Augusta, ME, are also part of the 855-key portfolio, which the company assembled during nearly two decades as a developer, investor and manager in the lodging industry. The company's hotel holdings once stretched beyond New England down the East Coast, but assets have been pared for a variety of reasons in recent years. Holiday Inns in Boxborough, Newton and Worcester were sold; the 178-room Ramada Rolling Green hotel in Andover was shuttered in 2002 after a wave of room construction saturated the Merrimack Valley; and the lender took back a Sturbridge operation in 2006. Fine Hotels was founded in 1990 by Gerald Fineberg. The company did not return phone calls by press deadline.

Linchris and Strategic are financing their purchase through Anglo-Irish Bank Corp, which provided a $64.5-million note. The Revere Hampton Inn sold for $38.6 million, while the Mansfield asset traded for $9 million. Pricing for the two Maine hotels was not available, but sources put the overall portfolio figure at approximately $100 million. The Augusta Comfort Inn has 99 rooms, while the Holiday Inn has 102 units. They are located within a mile of each other just off Interstate 95 near the Augusta Civic Center in central Maine.

Calls to Linchris and Strategic officials were not returned by press deadline, but in a GlobeSt.com article last week that first revealed the pending purchase, Linchris founder Chris Gistis indicated a multimillion-dollar capital improvement campaign would be undertaken to upgrade the facilities. Re-flagging of certain operations is another possibility, sources claim, although Gistis would not discuss that strategy or specifics about the deal with Fine, citing confidentiality agreements.