Annapolis Hotel Sells for $18 Million

Summary


Acquiring the Sheraton Barcelo Annapolis hotel for $18 million would mean immediate returns to shareholders of a Virginia lodging real estate investment trust, a company spokesman said.

McLean, Va.-based Highland Hospitality Corp., which is focused on hotel investments primarily in the United States, said yesterday it signed a definitive agreement to acquire the 197-room hotel at 173 Jennifer Road from White Plains, N.Y.-based Starwood Hotels & Resorts Worldwide Inc.

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Annapolis Hotel Sells for $18 Million

It's a hotel that is in a good market, said Highland Hospitality spokesman Sea...

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