WEST PALM BEACH, Fla.--(BUSINESS WIRE)--July 19, 1996--Servico Inc. (ASE:SER), a nationwide owner and operator of hotels, announced today the purchase of two hotels in Iowa, two in Nebraska and one in Kansas.
The five hotels are full service properties, contain 783 guest rooms and consist of three Best Western hotels, one Holiday Inn and one Sheraton Inn. Two of the hotels are located in Omaha, Nebraska, and the remaining hotels are located in Council Bluffs, Iowa, Des Moines, Iowa and Wichita, Kansas.
The hotels were purchased for $23.3 million, or $29,800 per room, with mortgage financing arranged by Lehman Brothers. All of the franchise affiliations are currently being ...