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REIT To Buy Rockville Sheraton for $23.3 Million

Starwood To Sell 155 Room Complex to Innkeepers USA Trust
By Kenny Cooper
August 10, 2006 | 4:10 P.M.

Hotel REIT Innkeepers USA Trust agreed to acquire the 155-room Sheraton Rockville from Starwood Hotels & Resorts Worldwide Inc. for $23.3 million, or about $150,300 per room. The five-story hotel is located 5.5 miles north of Washington, DC's Capital Beltway in Rockville, MD. It is under construction and is expected to open in October.

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News | REIT To Buy Rockville Sheraton for $23.3 Million