Wyndham completes sale of Peachtree City hotel

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Wyndham completes sale of Peachtree City hotel

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Local residents shouldn't notice any changes at the 250-room Peachtree

City hotel, which will continue to operate under the Wyndham name.

In addition to the Peachtree City hotel, the other properties bought for

$51.4 million in the deal by Thayer Lodging Group include the 408-room Wyndham

Miami Airport and the 311-room Wyndham Colorado Springs, Colo.

Pending lender approval, the sale of the 242-room Wyndham Lisle, Ill. to

Thayer Hotel Investors IV is expected to close December 2004. All four assets

will remain in the Wyndham brand portfolio pursuant to a long-term management

agreement.

Additionally, Wyndham has sold three non-proprietary and three Wyndham-branded

assets to Dallas-based Lone Star Funds for an undisclosed price. The six

hotels included in the transaction are the 124-room Union Station - A Wyndham

Historic Hotel in Nashville, Tenn.; the 147-room Tutwiler - A Wyndham Historic

Hotel in Birmingham, Ala.; the 320-room Wyndham Roanoke Airport, Va.; the

148-room Holiday Inn in San Angelo, Texas; the 199-room Radisson Hotel in

Dallas; and, the 172-room Holiday Inn Aristocrat Hotel in Dallas.

Wyndham is expected to close on a seventh hotel currently under contract,

the Doubletree Hotel in Glenview, Ill., in January. Additionally, all seven

assets will continue to be managed by Wyndham pursuant to a newly signed

management services agreement, as well as retain their respective brand flags.

Constructed in 1985, the Wyndham Peachtree is Fayette County's largest

and oldest hotel and consistently ranks as one of the most popular meeting

and conference centers in the nation.

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