CRESTVIEW HILLS - Columbia Sussex has struck a deal with a California real estate company to sell 14 of its hotels.
The $518 million sale would cut the hotel franchisee company's holdings to 53 hotels in 26 states, the District of Columbia, Canada and the Caribbean. The hotels being sold garnered Columbia Sussex $142.6 million in revenue in 2009, according to a government filing. Under the deal, the company will continue to manage the properties and also manage future hotel acquisitions.
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