Allied Hotel Properties Inc. Announces Agreement to Sell Hotel Property
04 Março 2010 - 11:06PM
Marketwired
On February 22, 2010, Allied Hotel Properties Inc. ("Allied") (TSX
VENTURE: AHP), through a wholly owned subsidiary, entered into a
hotel purchase agreement with an arm's length third party purchaser
(the "Purchaser") whereby Allied agreed to sell and the Purchaser
agreed to purchase the Crowne Plaza Chateau Lacombe for the
aggregate purchase price of $47.8 million. This transaction is
subject to certain conditions for the benefits of the purchaser and
the vendor including TSX Venture Exchange approval. The parties
anticipate completing the transaction on or about June 21, 2010.
Allied is a hotel ownership and management company. Its hotel
portfolio consists of the Crowne Plaza Chateau Lacombe in Edmonton,
Alberta and the Toronto Don Valley Hotel & Suites in Toronto,
Ontario. Allied also owns an interest in the Residence at Accolade
Inc., a condominium development adjacent to the Toronto Don Valley
Hotel & Suites. Interested parties can find further information
at www.alliedhotels.com.
On behalf of the Board of Directors:
John R. Ellen
Neither the TSX Venture Exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Allied Hotel Properties Inc. Mr. John R. Ellen
Secretary and Chief Financial Officer 604-669-5335 604-682-8131
(FAX) info@alliedhotels.com www.alliedhotels.com
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