CNL property sale to Ashford Hospitality complete

CNL Hotels & Resorts, an Orlando, Fla.-based real estate investment trust, has completed its previously-announced sale of 30 hotels to Ashford Hospitality Trust for $465 million. The 4,328-room portfolio includes properties that CNL said were non-strategic properties, and the company expects the sale to enhance the overall quality of its portfolio.

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American City Business Journals · Commercial Property Executive

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