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Article: Servico Makes Offer to Purchase 15 Hotels From Prime Motor Inns Limited Partnership.
- Article from:
- Business Wire
- Article date:
- September 30, 1997
CopyrightCOPYRIGHT 1997 Business Wire. 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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WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Sept. 30, 1997--Servico, Inc. (NYSE: SER), a nationwide owner and operator of hotels, today announced that it has made an offer to Prime Motor Inns Limited Partnership (OTC-PMPI) to purchase the 99% partnership interest that it owns in AMI Operating Partners, L.P. for $8 million in cash. Separately, Servico also has made an offer to purchase the remaining one percent of AMI Operating Partners, L.P. which is not owned by Prime Motor Inns Limited Partnership.
The principal assets of AMI Operating Partners, L.P. consist of 15 full service hotels currently franchised as Holiday Inns. These hotels are located in ...