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Hotel AG Negotiates Contract for Baton Rouge SpringHill Suites
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ATLANTA �May 11, 2009� � Hotel Assets Group, LLC (Hotel AG), announced today that the firm negotiated a Purchase and Sale Agreement for the SpringHill Suites currently under construction in Baton Rouge, Louisiana on behalf of Viking Hospitality. The 119-room property will be sold to Apple REIT for an undisclosed amount and will be managed by Prism Hotels & Resorts. �The signing of the Purchase and Sale Agreement was very timely for both the buyer and the seller,� Keith Thompson, principal of Hotel AG remarked. �Both parties are anticipating the closing to occur around the end of June 2009.� The hotel will be well situated in the Baton Rouge market and will consist of 119 guest rooms and offer all the amenities and services of a newly built SpringHill Suites. About Hotel AG
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Contact:
H. Keith Thompson
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