Raleigh-based Concord Hospitality Enterprises, a developer and operator of hotels, is forming a $300 million private equity fund to buy distressed hotels and debt.
The company said in a release today that it expects the fund to close within the next 90 days.
Concord has distinguished itself during the downturn by continuing to move forward on a handful of projects despite a credit crunch and a slowdown in travel.
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