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Eagle Hospitality selling hotels, 3 in Cincinnati
Business Courier, 09/11/2012

Eagle Hospitality Properties Trust is putting 13 hotels up for sale, including three properties in Greater Cincinnati.

Eagle is a spinoff from Covington-based real estate developer Corporex Cos. According to a press release, it reched a deal with its secured lender that will allow it to sell the hotels and repay debt at a discount.

The local hotels that are part of the sale are the 321-room Cincinnati Landmark Marriott, the 226-room Embassy Suites Cincinnati RiverCenter and the Hilton Cincinnati Airport, with 306 rooms.

Other properties for sale are:
Chicago Marriott Southwest at Burr Ridge (184 rooms)
Hyatt Regency Rochester (336 rooms)
Embassy Suites Hotel Columbus/Dublin (284 rooms)
Embassy Suites Hotel Cleveland/Rockside (271 rooms)
Embassy Suites Hotel Boston at Logan International Airport (273 rooms)
Embassy Suites Hotel Denver-International Airport (174 rooms)
Embassy Suites Hotel Phoenix-Scottsdale (270 rooms)
Embassy Suites Hotel Tampa-Airport/Westshore (243 rooms)
Embassy Suites Hotel & Casino San Juan (299 rooms)
Hilton Glendale (351 rooms)

"The Embassy Suites, Hilton, Marriott and Hyatt-branded properties are experiencing excellent growth and are well-positioned in their markets," said Marc Beilinson, managing director of Beilinson Advisory Group and Eagle Hospitality's chief restructuring officer. "Purchasers will have the flexibility to appoint their own management at 11 of the 13 properties without termination expense."

The company is using Lazard Frères & Co. LLC as its financial adviser.