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News: Front Section
Posted: August 13, 2008
Linchris Hotel Corp. and CrossHarbor Capital acquire 2 hotels for $27m
Linchris Hotel Corporation has made a major move into the suburban N.E. market with the purchase, in partnership with CrossHarbor Capital Partners of Boston, of two properties from Ashford Hospitality totaling $27 million.
This most recent acquisition adds the 127-room Radisson Hotel in Rockland and the 177-room Sheraton Hotel in Milford, Mass. to Linchris' growing portfolio.
Updates and renovations are scheduled for both properties over the next several months, not the least of which will be converting the Radisson Hotel into a Holiday Inn and converting the Sheraton Hotel into a Doubletree Hotel. The Rockland property will become the tenth Holiday Inn property in Linchris' portfolio, and Milford will be the company's first Doubletree property.
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