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HPT Buys Crowne Plaza Hotels for $63M

Hospitality Properties Trust Acquisition Totals 749 Rooms in Philadelphia, Miami
By Chris Kirk
April 27, 2006 | 2:32 P.M.

Newton, MA-based Hospitality Properties Trust (NYSE: HPT) purchased two Crowne Plaza Hotels for $63 million, or approximately $84,000 per unit from Irving, TX-based FelCor Lodging Trust (NYSE: FCH). The hotels, totaling 749 rooms/suites, are in Philadelphia, PA and Miami, FL.

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