Chesapeake Lodging Trust (CHSP) buys $126M Hotel from Starwood Hotels & Resorts Worldwide, Inc. (HOT)
Tweet Send to a FriendGet Alerts CHSP Hot Sheet
Up)
Trade CHSP Now!
Chesapeake Lodging Trust (NYSE: CHSP) (the “Trust”) announced today that it has acquired the 520-room W Chicago - Lakeshore located in Chicago, Illinois for a purchase price of $126.0 million, or approximately $242,000 per key, from Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT). The Trust funded the acquisition with available cash and cash equivalents and a borrowing under its revolving credit facility. The Trust entered into a long-term management agreement with Starwood to continue operating the hotel under the W® flag.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Rambus (RMBS) Enters License with STMicro (STM)
- Gevo (GEVO) Moves Higher After Resumes Production of Isobutanol at Luverne, Minn. Plant
- Supreme Court Reverses U.S. Court of Appeals Decision in FTC v. Actavis (ACT)
Create E-mail Alert Related Categories
Corporate News
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
