Summit Drops Choice at 11 Hotels; Sets Up $24M in Buys
From Maryland’s CityBiz Real Estate:
Summit Drops Choice at 11 Hotels; Sets Up $24M in Buys
In an SEC filing, Summit Hotel Properties Inc. has reported the termination of an operating agreement with Choice Hotels International Inc. for 11 hotels in nine states, including Texas. Also, the hotelier has inked purchase contracts for three hotels in three additional states. Summit disclosed it's in active negotiations with other franchisors for the 11 hotels. If all goes as planned, the re-flagging agreements should be in hand within the coming weeks. Click here for the full story.
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