CNL Hotels & Resorts Completes the Sale of Its Interest in the Hotel del Coronado Resort for an Estimated Net Gain of $124 Million
ORLANDO, Fla., CNL Hotels & Resorts, Inc., the nation's second largest hotel real estate investment trust, announced today that the company closed on the sale of all of its interest in the venture that owns the 679-room Hotel del Coronado in San Diego. As a result of the sale, the company expects net proceeds of approximately $166 million and an estimated net gain of approximately $124 million.
About CNL Hotels & Resorts, Inc. | CNL Hotels & Resorts, Inc. owns one of the most distinctive portfolios in the lodging industry. With a focus on luxury resorts and upper-upscale properties, the company has nearly $5.5 billion in total assets with 92 hotels and resorts across North America that operate under independent brands and corporate brands such as Marriott, Hilton and Hyatt. For more information, please visit / .
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