 CLEVELAND,
May 9, 2006 - Boykin Lodging Company (NYSE: BOY), a hotel real estate investment
trust, today announced that Boykin Marco LLC ("Boykin Marco"), a subsidiary
of the Company, has entered into an agreement to sell the Radisson Suite
Beach Resort-Marco Island to an unrelated third party for a price of $58.0
million.
The agreement provides for the consummation of the sale to occur on
June 30, 2006, which date may be extended at the option of Boykin Marco
for up to 30 days, and contains representations, warranties, indemnities
and closing conditions that are customary for a transaction of this nature.
Boykin Lodging Company is a real estate investment trust that focuses
on the ownership of full-service, upscale commercial and resort hotels.
The Company currently owns interests in 21 hotels containing a total of
5,871 rooms located in 13 states, and operating under such internationally
known brands as Doubletree, Marriott, Hilton, Radisson, Embassy Suites,
and Courtyard by Marriott among others. For more information about Boykin
Lodging Company, visit the Company's website at http://www.boykinlodging.com.
This news release contains "forward-looking statements" within the meaning
of Section 21E of the Securities Exchange Act of 1934 regarding the Company,
including those statements regarding the Company's future performance or
anticipated financial results, among others.
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