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Article: INNKEEPERS USA TRUST AND IMPAC HOTEL GROUP ENTER INTO STRATEGIC ALLIANCE
- Article from:
- PR Newswire
- Article date:
- February 7, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Agrees to Acquire Two Hotels in the Atlanta, Georgia Area
PALM BEACH, Fla., Feb. 7 /PRNewswire/ -- Innkeepers USA Trust (Nasdaq: NKPR) announced it has entered into an alliance with IMPAC Hotel Group, an Atlanta based developer of Residence Inn and Courtyard by Marriott hotels, whereby the Trust will have the opportunity to acquire various properties developed by IMPAC. Accordingly, the Trust has agreed to acquire a 160 room Residence Inn currently being converted from a landmark office building in downtown Atlanta and a 150 room Hampton Inn under construction in Norcross, Georgia, a suburb of Atlanta. Closing on both hotels is expected about September 1, 1996. The ...