Highland Hospitality Corp. (NYSE:HIH), a lodging REIT, purchased Pointe Hilton Tapatio Cliffs Resort & Lookout Mountain Golf Club in Phoenix, AZ from HHC/PTC LLC for $85 million, or about $145,299 per unit. Highland Hospitality reached a long-term agreement with Hilton Hotels Corporation (NYSE:HLT) to operate the 585-suite club as a Hilton-branded resort.